Wednesday, July 23, 2008

RUT Retracement

The RUT only took 6 days to retrace the move back to the 61.8% level and today closed .10 above the actual 61.8% number of 719.09 - RUT closed at 719.19

In the process of today's trading it created a topping tail on the daily chart.

Tomorrow will be pivotal to see if it can buck the tail and go higher or if the topping tail works tomorrow like it usually does and we get a little pull back.

Remarkable retracement!

RUT Daily Chart:

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