Saturday, March 29, 2008

$RUT Update for 03.29.2008


Monthly chart shows indecision between the bulls and the bears. No buy signal/pattern evident on this timeframe.

Weekly chart shows last week's trading activity resulted in a shooting star/doji candle pattern. The bulls were unable to take the index higher, and were overcome by the bears who took the index right back down to where the market opened for the week.

Daily chart shows consolidation/trading range. IF this is wave 4, THEN look for lower low to complete wave 5.

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