Tuesday, May 31, 2011

Russell 2000 Index (TF) Last Hail Mary? 5/31

This is my last chance, bottom of the barrel, hail-mary, long shot, wish it would do it but probably won't final resort short opportunity on the russell 2000 index. We are getting strong divergence on the rally up from last night's greece bailout news on the hourly chart as highlighed in the yellow lines on the chart to the right. The daily chart shows us at the top of the retracement channel (shown in purple) for the full down move from its yearly highs. If this fails I feel we are into no trend or back to an uptrend.

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