Tuesday, September 2, 2008

RUT: Mixed Signals

Lots of euphoria from Midnight to 7:00AM Pacific Time and then the air got let out of the balloon until the 12:00 reversal time (PT).

On the daily chart this is sizing up to be a potential pull back to the 200MA and a retest of the 720 area. Note however that it did retest and held both the 8MA and 20MA on the daily chart today.

The weekly chart looks strong, especially if it can hold the 720 area.

RUT Daily Chart:


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