RUSSELL 2000 INDEX - $RUT
Monthly chart shows continued weakness with index well below all key moving averages on this timeframe. This downside move has hit all three of my initial downside targets. With continued bearishness, the next downside target is the key LIS and November 2002 low of 325 area and after that, the .786 fib level of 276.75 area. No buy signal/pattern evident on this timeframe.
Weekly chart shows increasing bearishness with index well below all key moving averages on this timeframe. No buy signal/pattern evident on this timeframe.
Daily chart shows continued weakness with bulls finding short term support off the .886 fib level. No buy signal/pattern evident on this timeframe.
No comments:
Post a Comment