Wednesday, April 1, 2009

RUT: Consolidation

The Russell bounced hard off the 410 support area this morning and closed near the highs at 429.16.

The 432.50 area will be in focus tomorrow, as that's the resistance area it will need to clear and hold in order to give the bulls control. A break below 410 would had it back to the bears.

Head and Shoulders Pattern still forming but no confirmation yet.

RUT Hourly Chart:


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