The Russell Small Cap Index Completes Year-Long Top Formation

From a weekly-chart perspective, the cash Russell 2000 Small Cap Index pattern has matured and deteriorated since our last update on Sept 22.

Let's notice that the price structure has pressed below its multi-month support plateau at 1100-1080, which completes a 1-year rounded-top formation and sets into motion a projected potential decline to a 950-885 target zone.