Sunday, October 04, 2009

$RUT Update for 10.04.2009


Monthly chart shows backend resistance at prior high of 614 area holding as resistance once again. Coincidentally, this is also right at the 34ema and the 89sma levels.

Weekly chart shows the current high was made with regular divergence on the cci Momentum indicator. Look for possible deeper retracement off this current resistance high.

Daily chart shows sell signal in place on this timeframe with a lower high put in on September 29, 2009.

No comments: