Russell 2000 Technical Analysis – The Fed is cutting rates into resilient growth ...Middle East

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Russell 2000 Technical Analysis – The Fed is cutting rates into resilient growth
Fundamental OverviewYesterday, we got some more positive US data releases as the US retail sales came out a touch better than expected and the industrial production data beat forecasts erasing the hurricane related weakness in July. Despite that, the market is still pricing a 63% probability for a 50 bps cut at today’s decision. What’s more important is that the Fed is cutting into a resilient economy which should lead to better growth expectations and support the stock market.Russell 2000 Technical Analysis – Daily TimeframeOn the daily chart, we can see that the Russell 2000 eventually rallied back above the major trendline and extended the gains into the previous high around the 2250 lev

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