RUT Russell 2000 small caps daily chart rolling over from the overbot, rising wedge and negative divergence. The lower trend line was busted in mid January at the 800 level and that is where it bounced today for the first test of 800 horizontal support. The intraday high today came up to test the 20 MA and pulled back a smidge. That is the bracket to watch, 800.0 support and 808.6 resistance so it will show its hand tomorrow depending on which side it wants to move thru.
ADX shows the strong momo trend into and thru the holidays and as the New Year began but by mid January the party was over. Lots of downside remaining, 800 should fail, the real battle will be for 775. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.
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