Market Analysis for Sep 24th, 2021

Judging by the RTY context+pattern, we definitely need to watch this sibling closely in the next few weeks.

Now, I can start to see that there's potential that it could outperform vs. all the other US indices as we head into Q4+EOY

Additional context: RTY multi-month horizontal bullish consolidation within a multi-year bullish trend

I want to see this thing keep sustaining 2200+ to prove its ready again, in order to head back into 2350 and much higher....

Here's a weekly RTY chart (9 months worth of consolidation/trapped market participants)

Once this thing really breaks out....the feedback loop squeeze will likely be fast and furious (lockout rally...very shallow dips, up up up)

Ricky Wen is an analyst at ElliottWaveTrader.net, where he writes a nightly market column and hosts the ES Trade Alerts premium subscription service.