Monday, February 28, 2011

Russell 2000 Bearish Pattern

The cycle appears to be mature and that would indicate a sharply bearish move next for $RUT.  Short term 800 may be the next target.  I will review at that time. 

Since from the Right side of the cycle line, the pattern is sloped upwards, that may indicate an especially powerful decline to compensate for that build up of pressure.    

60min Chart

Short term watch 800 for $RUT.

30min Chart

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