Another major chart pattern, this time in Russell 2000 Index, has just failed. Chartists are dumbfounded by the failures of even the best of chart patterns recently. Some have come to understand what is happening but some others still resist not realizing that they are surrounded by robots that respond to data and news feeds in microseconds and can cause a 10 point move in S&P 500 futures in a few minutes not caring if that violates some chart pattern formed over several weeks or months.
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