Well, I'm looking at this a step at a time. The weekly RUT has a potential inverse H&S setting up if it can get to 606 or so, and drop back to 560 or so:
stockcharts.com[w,a]waclyiay[dd][pc9!c13!c20!d20,2!h.02,.20!c50!c100!c200!c150!b200!b50!c175!f][vc60][iLa4,9,5!Lh5,5!Li10,10!Lp14,3,3!Ll4!Lo14!Lb14!Le5,10,1!Lh89,34!Lh45,17!Li180,68!Lp3,2,2]&pref=G
The target would be about 675 should this occur, but it may take until mid or late summer for a breakout if this turns into a complex inverse H&S.
That move would be the equivalent of the move off the November 2003 lows to the Jan. 2004 highs. |
