lowtrade

[lowtrade]

$RUI $RUT & $SPX (including FAS) all have showed exhaustion today, with the gap up on reduced volume. Therefore I don't expect the double bottoms in them, to continue without another retrace first.

How far the FIBs retrace goes, shouldn't be called before. It is used to judge size of expected retrace bounce after.

But specifically your $RUT chart is more positive (TIGHT / no gaps) then the others. So the retrace bounce should be slightly sooner then the others.

$SPX,FAS & the Russell 1000 have larger gap ups today, showing more emotion. Normally resulting in a more emotional retrace.

IMO today just popoo'd the Christmas rally somewhat. And 2820 spx break looks delayed if at all now.

$SPX http://schrts.co/uLxTmB

$RUI http://schrts.co/eDoYUb

$RUT http://schrts.co/njmm4y

FAS http://schrts.co/XE9UHN