Sunday, October 26, 2008

$RUT Update for 10.26.2008

RUSSELL 2000 INDEX - $RUT

Monthly chart shows the index to be trading well below its 8ema. No buy signal/pattern evident on this timeframe.

Weekly chart shows the bears came out in force last week, taking the index down to a lower low, and managing to keep the bulls at bay, by closing the week near its lows. No buy signal/pattern evident on this timeframe.


Daily chart shows that traders gapped down the open of Friday's trading session, but both the bulls and the bears lacked conviction to move the market very much, creating a doji candle pattern. No buy signal/pattern evident on this timeframe.

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