Friday, April 10, 2009

$RUT Update for 04.10.2009

Monthly chart shows bulls aggressively stepping back into the market after the market found support off the March 2009 low.

Weekly chart shows the bulls continue to gather momentum as they managed to close the index above the 8ema.

Daily chart shows the bulls gapped up the open on Thursday's trading session open in their haste to enter their positions. The last move up into the new high was made with regular divergence on the CCI momentum indicator. Look for signs of weakness and profit-taking next week.

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