Chart of the Day - Thursday, November 10th, 2022
November 10, 2022
Today’s Chart of the Day was shared by Shane Murphy (@murphycharts). It's a chart of the Russell 2000 over the past five years. The Russell 2000 jumped +6.11% today, marking its best day since April 2020. It was down as much as 32% at its June low, however, it double bottomed at the 2018/2020 highs, around 1700. Shane points out that those former highs offer a clear risk level to lean on. If we're above the former highs, the risk is to the upside. If we're below the former highs, the risk is to the downside. The next upside objective will be the August highs around 2000.