Friday, March 14, 2008

$RUT Update for 03.14.2008

RUSSELL 2000 INDEX - $RUT

Monthly chart shows continued weakness. No buy signal/pattern evident on this timeframe. Downside target remains at the .618 fib retracement level.

Weekly chart shows a doji/spinning top candle pattern. No buy signal/pattern evident on this timeframe. Market is in consolidation before the next move (down).

Daily chart shows a large bearish engulfing candle pattern, erasing all the gains made yesterday. No buy signal/pattern evident on this timeframe. Market in consolidation before the next move (down).

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