"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Friday, August 17, 2012

Russell 2000 Updated

On August 6 we noted the Bull Flag on the $RUT along with a crazy sounding upside target.  It broke out and a new pattern has formed with more reasonable upside objective.  Here is a crazy looking chart with too many lines for your viewing pleasure.














It still says here that bearish is and has been the wrong way to be since May.  It also says here that I expect this to change when sentiment profiles finish getting adjusted.  Meanwhile, party on Garth.

http://www.biiwii.blogspot.com
http://www.biiwii.com/analysis.htm

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