Friday, January 20, 2012 3:25:40 PM
updated RUT weekly chart with SPX and NYA shown in the lower portion of this chart
* RUT 783 to 787 zone is now near-term resistance based on prior weekly inflection levels...be vigilant here...this price level is a big deal ... bulls badly need to make RUT 783 to 787 support in the future, if it is established as resistance, this bull run will have a long period of choppiness and/or very high volatility until this zone is overcome to the upside
* NYA $7771 is extremely important in 2012 to the bulls...if it does not continue to become and provide support on a lasting basis, this November V-bottom in the price structures for various indices will be in danger ... until NYA $7771 is violated to the downside the bulls have firm control and bears are in serious imagination syndrome trading any indicator other than price action
http://stockcharts.com/h-sc/ui?s=$RUT&p=W&st=2004-07-01&en=%28today%29&id=p73016319262&a=244553543
chart view below
&id=p73016319262&a=244553543)
* RUT 783 to 787 zone is now near-term resistance based on prior weekly inflection levels...be vigilant here...this price level is a big deal ... bulls badly need to make RUT 783 to 787 support in the future, if it is established as resistance, this bull run will have a long period of choppiness and/or very high volatility until this zone is overcome to the upside
* NYA $7771 is extremely important in 2012 to the bulls...if it does not continue to become and provide support on a lasting basis, this November V-bottom in the price structures for various indices will be in danger ... until NYA $7771 is violated to the downside the bulls have firm control and bears are in serious imagination syndrome trading any indicator other than price action
http://stockcharts.com/h-sc/ui?s=$RUT&p=W&st=2004-07-01&en=%28today%29&id=p73016319262&a=244553543
chart view below
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