Rut has the clearest congestion zone,
1. rut breaks out above 801 and goes to brkout trgt 830
2. collapses below 801 and below bottom of C Zone at 760.
3. gaps back above 760(aka false breakdown)
so what now? TA 101 says rut is going back to 801 shortly.
TA 101
Started by
S.I.M.O.N.
, Mar 06 2007 11:40 AM
1 reply to this topic
#1
Posted 06 March 2007 - 11:40 AM
*previously known as pnfwave
#2
Posted 06 March 2007 - 01:20 PM
I think $796 or 50 dma (flat) is probably a good target... I think it is very normal to expect here at least the 50 dmas to be revisited for many indices...
I also think that there will be a bit more pull back after tomorrow probably for a better buying op, then it can probably test easily the 50 dmas within a few days.
I expect one more shoot down and then rally. If the indices can not make to the 50 dmas, I expect the lows to be revisited, probably to 200 dmas and 1-2% lower on RUT...
- kisa