Saturday, February 09, 2008

$RUT Update for 02.09.2008


Monthly chart shows continued selling. No buy signal/pattern on this timeframe.

Weekly chart shows that last week's trading activity gave back most of the prior week's gains. Look for a test of the January 22nd low.

Daily chart shows resistance at a key LIS where "old support becomes new resistance". So far, the index has been stuck in a trading range. No clear buy signal/pattern evident on this timeframe.

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