Russell breaks out

The Russell has broken out of its short-term triangle continuation pattern to the upside. If the breakout holds, we could see a run to new all-time highs above 2547 from here. Key support around 2500 has held for now.


Risk appetite remains elevated as markets head into a critical window packed with potential rate cuts, tech earnings, and diplomatic progress between the US and China. The upcoming Trump–Xi meeting has added an extra layer of enthusiasm after Trump signaled possible tariff relief. Confidence in the AI theme continues to drive the rally, with Nvidia’s historic $5 trillion valuation amplifying bullish sentiment across tech-heavy benchmarks like the Nasdaq 100 and S&P 500. But now even the small caps index of 2000 US stocks - the Russell - is joining the rally.

By Fawad Razaqzada, market analyst at FOREX.com