Replies to post #25242 on ajtj99's Market Pulse

[ajtj99]

Shack, I'm not that certain of the real bearish scenarios here near term. I think the RUT holds 520, or it's headed to 481 quick.

Realistically, it should hold the weekly 50EMA at 532 or so. The daily shows levels of underlying support above 520 that should act as little circuit breakers on any drop:

http://stockcharts.com/def/servlet/SC.web?c=$RUT,uu[h,a]daclyyay[dd][pc9!c13!c20!d20,2!h.02,.20!c50!...

Max Pain on the RUT is 590 this month, and that's the top of the weekly downchannel. The 530 area is the bottom of that same channel.