Saturday, June 07, 2008

$RUT Update for 06.07.2008


Monthly chart shows some selling pressure the first week of June.

Weekly chart shows some selling pressure, as the bears managed to take back some of the gains made by the bulls the week before. Current support is right off the 8ema and the 34ema.

Daily chart shows the bears gapped down the open during Friday's trading session in their haste to exit their positions. Look for a retracement of the whole leg up off the March low.

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