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$RUT Daily Chart
Here's your TnR weekend update. The Russell finally got a short term sell reversal this week, after the relentless rise in February. It was appropriate to take profits this week on intermediate long positions, and I would look to put on new intermediate term positions with a short term buy reversal this week. With that said, we are in a short term downtrend, so more weakness should be expected at the start of next week. However, we remain nicely in IT and LT uptrends, so the expectation for weakness should be tempered, especially as we are now moving to backtest the breakout of the 2014 highs, in the 1212 area. This could provide nice support to launch the next upleg.
With ATR this low on the daily chart, and turning up....we should be seeing some larger range days for the rest of the month. 3/7/15
- By: TnRevolution
- On: 3/7/15 10:49AM
- Viewed by 28 SocialTraders
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