InvestorsHub Logo
Boards
News
Market Data
Markets
Discover
Discover
Subscribe Login/Register
S&P 500
5,482.93
(
0.09%
)
US TECH 100
19,250.00
(
0.18%
)
Dow Jones
39,164.06
(
0.09%
)
Brent Oil
85.32
(
1.00%
)
Bitcoin
61,324.08
(
0.84%
)
Post# of 51804
Next 10
Reply Private New
Public Reply Private Reply New Post
Keep Last Read
Keep Next 10 Report Keyboard Shortcuts
Next 10 Prev Next

techcharter

Send PM Follow Ignore
Followers 24
Posts 2281
Boards Moderated 0
Alias Born 06/03/2004

techcharter

Re: None

Wednesday, 10/28/2009 11:24:31 PM

Wednesday, October 28, 2009 11:24:31 PM

Post# of 51804
Russell 2000 Breaks Down!!!

The ending diagonal scenario (Wave-c of C) played out for all the markets. Today's breaks of the early October low in the RUT and TRAN eliminate a final rally, high into Thanksgiving.

http://stockcharts.com/h-sc/ui?s=$rut&p=D&yr=0&mn=6&dy=0&id=p28560098753

http://stockcharts.com/h-sc/ui?s=$tran&p=D&yr=0&mn=6&dy=0&id=p28560098753

Going forward. Today looked very strong, so I'd say the RUT is in a little wave-3 of a larger 1. By symmetry, I estimate support in the 540 area over the next week. There are some support / resistance points on the way up in that area. The consolidation out of the selloff leads into Tanksgiving.

I'm not as sure of a downside target for the TRAN because today did not drop enough for to be called a wave-3.
Public Reply Private Reply New Post
Keep Last Read
Keep Last Read Next 10 Report Keyboard Shortcuts
Next 10 Prev Next

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.

Sign Up