Monday, April 26, 2010

RUT Remains Parabolic

Nuff said there. Bottom line is the bear market upper resistance line (Red) is just above and a solid resistance zone from 750 to 765 is just above as well. With the throwover of the bull corrective's upper resistance line (blue) and now the throwover of the pink(ish) wedge on a near vertical ramp combined with those daily indicators overbought condition, a corrective should happen this week or at least a pause as it sheds the first stage the rocket boosters and prepares to launch warp drive. Who the heck knows. I just tell you what the charts say.