Edited by Russ, 30 July 2007 - 09:09 PM.
Russell 2000
Started by
Russ
, Jul 30 2007 09:06 PM
3 replies to this topic
#1
Russ
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Posted 30 July 2007 - 09:06 PM
This index appears to have been about the weakest out there, so if the weakest has found support should be bullish.
"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#2
uncleharley
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Posted 30 July 2007 - 09:12 PM
I would fine tune the chart before calling a bottom. The daily chart shows that the Rut may have another 5 points to go before touching support. Now, if it went sideways, it could take a week.
#3
Russ
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Posted 30 July 2007 - 09:22 PM
I would fine tune the chart before calling a bottom. The daily chart shows that the Rut may have another 5 points to go before touching support. Now, if it went sideways, it could take a week.
Yes I see what you mean, it could be that the high 760's is needed. Bear in mind though that the guy who called this rout last Jan. (Airedale88) has covered his shorts. The chart below is also looking pretty overdone.
http://stockcharts.com/c-sc/sc?s=$NYSI&p=W&b=1&g=0&i=p33545647565&r=9129.png
"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#4
selecto
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Posted 30 July 2007 - 09:50 PM
On the RUT if we didn't print the low today, we should tomorrow. Otherwise price momentum stuff I like starts making a rare complex bottom.
