Key insights
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A pullback to today's volume weighted average price and the five-day moving average could provide a potential entry point for traders.
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"What we want to see is the trend alignment right. Now we have stage two uptrend on the daily time frame stage and short term coming out of stage four into stage one."
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"It's not about buying the breakout because it might be extended there, but to buy as the buyers regain control tomorrow morning from this point."
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"If we're above the two day volume weighted average price, I would be a buyer here with a stop."
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Consider the strong setups of the SPY and NASDAQ when evaluating the Russell 2000.