Russell 2000 Violates Topping Pattern

The Russell 2000 Index has violated its topping pattern. A 50-percent retrace is around $216 and the 200-day moving average is at $218 per share. A brief/limited move over the 200-day wouldn't be a clear signal that new highs are coming, as that level was violated in 2008 and offered no hope for bulls. Bear markets are brutal.