Tuesday, September 17, 2013

RUT Russell 2000 Small Caps Daily Chart

The RUT jumped higher yesterday to print a new high but quickly retreated. With the new high, the red lines show the negative divergence in place over the last six weeks, so the upside move does not have a lot of energy. The ADX shows a nice upward trend in July with the black line moving above the mid-20's and staying above, but not anymore. The ADX is 16 showing that there is no strong trend now. The short green bars show some short term momo so price may play around at these levels for a day or three, but the anticipation would be lower ahead. This information is for educational and entertainment purposes only.  Do not invest based on anything you read or view here.  Consult your financial advisor before making any investment decision.

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