The stock-index futures have moved from the lower end of their ranges to the higher end. A move in unison to new highs for the year (above the green arrows) would be substantially bullish and suggest that a sustained rally is underway.
A breach of the support levels (below the red arrows) would instead shift the bias in stocks to firmly bearish. We anticipate the resolution of these ranges in the stock indices is likely to lead to a directional / trending move in the direction of the break.
Investors and traders should look for the move out of this range to signal the “next move” in the stock indices. The Russell 2000 (TF) is currently the index that we are focusing on as a potential first indication and leader of an eventual break to the upside or downside.
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