RUT: Reverses Intraday After Hitting New Low

The RUT put in a positive day after testing yesterday's low near 430, it closed at 456.76. When it lost 440 yesterday it created an even lower low. This continues to hint that the move to retest the prior 370 lows is ever present.

The RUT is now back in the 440 to 490 range, which will be important to watch. The price is now under the 8MA, 20MA, 50MA and 200MA -- bearish. More importantly, all of these MA's are pointing DOWN. The RUT may get a bounce here as a continuation of today's move, but keep your eyes on the 20MA as it's direction will likely be the light that illuminates the path.

RUT Daily Chart: