RTY Channels Held

8 Tem 2020

Despite the initial selloff, my channels in the RTY held. I'm holding off on longs until XLF makes a decision. It's currently struggling to sustain a rally. Flag support is at 1354 below. My sell zone starts at 1453. There is a minor support at 1400s. If we close below 1354, then the RTY will be in big trouble. For now, I am not sure if a new channel below is forming or not. I may have to create a downward channel.

8 Tem 2020

Not

In hindsight, I should've seen the XLF rallying when earnings season was coming up. I also should've seen that bullish divergence on the RSI earlier. That's where I should've gone long.