Tuesday, February 9, 2010

Where we stand

Bearish Rally Signals are being generated...and market structure seems to be complete or in a completion phase. A-B-C bounce has set up nicely on RUT and matches high probability targets. As a secondary potential the same target areas could be met with a 5 wave wedge rather than an A-B-C pattern. The important thing is that we have triggered resistance signals already and it seems do not have that much more upward potential.

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