Thursday, January 31, 2008

RUT Levels

Taking a look at the 2 year chart, it draws similarities to the price action back in 2006 where it went into a 5 month consolidation phase after a downturn. Keep your eyes on the zone between 670 and 740 as a breakout above or below those levels may indicate another leg up or down.

RUT 2 Year Weekly Chart:




RUT Daily Chart:
The RUT closed above the 705 area today and now has a little room to move up if it decides too.

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