RUSSELL 2000 INDEX - $RUT
Monthly chart shows the bears managed to erase 79% of the gains made since the low of October 2002. The index remains well below all its key moving averages, especially the 8ema. No buy signal/pattern evident on this timeframe.
Weekly chart shows a short term support level is in place, as the bulls managed to close the market up much higher than its open this past week. Index remains below all its key moving averages currently. No strong buy signal/pattern evident on this timeframe.
Daily chart shows aggressive bulls stepped back into the market on Tuesday, and continued to hold onto their gains. Look for a test of the October 14, 2008 high (current resistance level).
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