The RUT is in the process of retracing the downward move that started at the 763 high on June 5th. Today it started near the 23.6% level, but made it's way all the way up to the 50% retracement level. A bullish day tomorrow we would look for an intraday upside target of $745.75 which is the 61.8%. Note that there were no significant pull backs today so be on the look out for some tomorrow.
I would look for 735 (38.2) level to support, then 731, 728 and 725.
Above 745 the next fib level is at $753 (78.6)
Looking at the chart I'm going to watch the backside of the upward trendline very carefully as it could easily resist there and create a low risk entry for a short.
RUT 15 Minute Chart with Fibs:
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