RUSSELL 2000 INDEX - $RUT
Monthly chart shows bottoming tails into support. All three downside targets have been hit. Index remains well below all key moving averages and the down trendline in place. Perhaps the market will consolidate for a bit now. No buy signal/pattern evident on this timeframe.
Weekly chart shows the bulls managed to cling onto their gains made the week before. There is an aggressive buy signal/pattern in place on this timeframe. Look to lower timeframe charts for better sense of short term direction.
Sunday, December 07, 2008
$RUT Update for 12.05.2008
Posted by TraderZ at 12/07/2008 12:14:00 PM
Labels: $RUT, bullish engulfing, doji
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