Browse Symbol Stacks: $RUT: content.screencast.com/use.../RUT72514.jpg

content.screencast.com/use.../RUT72514.jpg

$RUT Daily Chart 

I believe we are approaching a bearish point of recognition on the RUT. When we are able to break below the blue trendline circled, a 2011-style flush seems very likely, given the overhead supply build up over 1080's support line, and coming out of the massive 2.5 year rising wedge. Similar points of recognition can be seen on 9/29/08 & 7/27/11.  

Whether we move through that line today or Monday, or possibly bounce higher doesn't matter to me. At some point in the near future I believe we are going under that line with gusto.

Comments

Closing Basis - go with the flowClosing Basis - go with the flow
May your most bearish dreams come true. : ) 7/25/14
Pyesetz the DogPyesetz the Dog
Keep the faith, Rev! My robot went short the $$RUT today. 7/25/14