ChOTD-4/14/14 Russell 2000: Approaching 1st Major Int-Term Fibonacci Retracement Support Cluster

The Russell 2000 is nearing the first major intermediate-term cluster of Fibonacci Retracement support in the low 1100’s. The Fibonacci “trifecta” (23.6, 38.2 and 61.8) from lows dating back to November 2012 (along with the 200-Day SMA) should provide at least short-term support for the Russell 2000. Watch for a bounce from there or a reversal back above that level.