$RUA Update for 12.15.2007

$RUA - Russell Index

Monthly chart shows index falling back through prior high and key LIS. Uptrend remains intact for now, but with further weakness, look for this to be broken and a deeper retracement of the last move up.

Weekly chart shows a lower high in place. Increased selling pressure evident this past week. head and shoulders pattern in place. Look for break of neckline to confirm larger move down.

Daily chart shows increasing selling pressure on Friday. Index trading below all key moving averages. Look for further weakness and continuation lower next week.

$RUA Analysis for 12.02.2007

Monthly chart current uptrend remains intact, despite the profit-taking/selling at the current high. Support is currently right at the open for the year. The last move up has been made with divergence. Monthly close currently right at the prior high and key LIS. This needs to hold in order to see higher.

Weekly chart shows early buying by bulls.

Daily chart shows Friday's price action found resistance at the 200sma.