Wednesday, July 30, 2008

RUT: Holds Gains

The RUT had a volatile day, but closed up 4.11 points after bouncing off the 100MA on the daily chart.

After yesterdays huge white candle, this pull back was healthy in the bigger picture of the RUT continuing to move up. 720 will still be an area of resistance it will need to clear, but if it can get up above and hold 720 then the 200MA at 727 then the 740 area would be the next target.

RUT Daily Chart:

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