Saturday, April 19, 2008

$RUT Update for 04.19.2008


Monthly chart shows market holding support off the .382 fib area.

Weekly chart shows buying strength last week. Current resistance is just up ahead, at the .382 fib and also small LIS (old support becomes new resistance).

Daily chart shows possible 5 waves up into test of prior high. IF we have 5 waves up, THEN look for abc 3 wave retracement. Will we see early profit-taking next week?

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