Linear regression suggest an uptrend in RUSSELL 1000
A r(0.942) linear regression on Russell 1000 index suggests an uptrend in the coming months. There are two possible scenarios:
I am going LONG on this. Traders should take special care trading and watch for worldwide events that may have a negative impact on it.
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"If you have trouble imaging a 20% loss in the stock market, you shouldn't be in stocks." - Jack Bogle
- (1) the trend continues to travel along the linear regression channel eventually reaching the ~120 level.
- (2) in a less likely pattern, the price breaks the 5 regression channel, and then bounces back in the strong support level at ~86
I am going LONG on this. Traders should take special care trading and watch for worldwide events that may have a negative impact on it.
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"If you have trouble imaging a 20% loss in the stock market, you shouldn't be in stocks." - Jack Bogle