Sunday, June 01, 2008

$RUT Update for 06.01.2008


Monthly chart shows the bulls managed to make gains, as it closed higher for the month of May 2008. Current resistance is right at the 50% fib level.

Weekly chart shows the strength of the bulls, as they managed to close the index near its highs.

Daily chart shows current resistance is right at the 200sma. The whole up looks corrective thus far. Look to next week to see whether it has a little further to go, or whether we begin to see a more deeper pullback.

No comments: