RUSSELL 2000 INDEX - $RUT
Monthly chart shows the market has retraced beyond the .618 fib initial downside target. Index remains well below all key moving averages as well as the down trendline in place. No buy signal/pattern evident on this timeframe.
Weekly chart shows index remains well below all its key moving averages on this timeframe. No buy signal/pattern evident.
Daily chart shows consolidation pattern playing out. No strong buy signal/pattern evident on this timeframe. Look for continued trading range before next leg down.
Sunday, October 19, 2008
$RUT Update for 10.19.2008
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