Saturday, January 07, 2006

Russell 2000 broke resistance and moving

Happy New Year.
As mentioned in the December 6th posting, the market needed a rest and it consolidated for the past 4-5 weeks.Now it brokeout yesterday from that consolidation range and it looks like will continue its upward movement.
But there's always a catch.It's like whether the market got enough rest last month to continue the upward move and not fall back. So watch for market not to fall back below 690. If it does, then it will continue to consolidate. Looking at other market indexes and components market is in good shape to continue its move upward.

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