Saturday, January 3, 2015

1/3/15 - RUT

The last time I posted the RUT, the flat option was presented. 

So far, there are clearly three waves down off the 7/1/14 high and now three waves up off the 10/15/14 low. There is daily MACD -ve divergence building, which would support the case for one more test of the range low (108x). 

The bulls argument will be that wave [4 is complete and that the RUT will finally breakout of the yearlong range and continue channeling 
(red) higher. 

RUT - Daily

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