$RUT Update for 11.16.2008

RUSSELL 2000 INDEX - $RUT

Monthly chart continues to show weakness and remains well below all its key moving averages. While both of my downside targets have been hit, there is no buy signal/pattern evident on this timeframe.

Weekly chart continues to show weakness, and it remains well below all its key moving averages. No buy signal/pattern evident on this timeframe.

Daily chart continues to show weakness and remains well below all its key moving averages. While the bulls managed to take the market up on Thursday, they quickly lost all of their gains to the bears who came out in force on Friday. No buy signal/pattern evident on this timeframe.