Tuesday, December 06, 2005

Russell 2000 and Market tired

Even though Russell 2000, brokeout of its prior high, it came back to that level and is stuck there for the past days. The market is telling us that it's tired of going higher, it needs more energy and inorder to get that it needs to consolidate . I think the market will trade in a range for the next couple of weeks.
As mentioned in a chart below, Oil stopped at the trendline and is climbing up. Oil may be on its last gasp higher, before it goes into a minor bear.

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