Descending Channel on the SPX, 100-day Test on the RUT
November 3rd, 2009
| Categories: Chart Addict, Market Minds
Below is the 5-day chart of the SPX with a ‘extra day’ added on for today. See the descending channel? Use that as your short-term guide. The RUT is now at the 100-day MA as it formed a doji yesterday. There wasn’t much of a fight at the 50-day, so let’s see if we see some struggle here. Make note that this is the first time the RUT touched the 100-day since April.
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Descending Channel on the SPX, 100-day Test on the RUT
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