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Strategies & Market Trends : Ask DrBob

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To: autopilot who wrote (91342)	5/17/2005 8:05:24 PM
From: Walkingshadow	Read Replies (2) of 100058

Hi Autopilot, Saw the discussion re $RUT. I think this chart says it all. $RUT has formed a bottom after a medium-term correction over the past 21 weeks, which has occurred within the context of a long-term uptrend that began 115 weeks ago: 139.142.147.218 139.142.147.218 Stochastics now show a clear buy signal from oversold territory, and this was preceded by a signal in Williams in April. IMHO, $RUT will join with $NDX and $COMPX, which have also been in long-term uptrends (albeit for 22 weeks longer than $RUT) and have both formed bottoms on solid support with evidence of professional accumulation after a medium-term correction that began in December: $NDX: 139.142.147.218 $COMPX: 139.142.147.218 I think all three indices will rally through the summer and into the end of the year. $NDX (and of course QQQQ) will finish the year at least 20% higher than the recent lows. The strength of that rally will depend on the $SOX. For now, the $SOX is rallying, but there is a critical test of overhead at about $445 that will occur in 6 - 8 weeks or so: 139.142.147.218 The strength of the rally into the end of the year will be decided based on whether the $SOX successfully tests that overhead or not. WS

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