Saturday, January 19, 2008

$RUT Update for 01.19.2008


Monthly chart shows increasing downside momentum. Index currently well below the up trendline and the 34ema. Look for a test of key s/r at 614 level.

Weekly chart shows index found short term support off key LIS and prior support. No buy signal off this timeframe as of yet.

Daily chart better shows the increasing downside pressure. Index currently below all key moving averages. Look for continued weakness and lower.

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