Sunday, November 30, 2008

$RUT Update for 11.30.2008


Monthly chart remains bearish as index is well below all key moving averages. All three downside targets have been hit. Look for longer consolidation/trading range before the next leg down.

Weekly chart short term support in place for now. No strong buy signal/pattern in place at this time.

Daily chart shows short term support in place. Possible 5 waves down into current support. IF we have 5 waves down, THEN look for larger consolidation/trading range.

No comments: