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| Home : Investing Strategies : Technical Analysis |
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Technical AnalysisRussell 2000: Sloppy close after upside breakoutAfter an upside breakout earlier in the week, the market closed on a sloppy note Friday, leaving some short-term topping patterns that bear watching in the next few trading days. Russell 2000: Breakout at hand?On a long-term chart structure, the market is building a nice foundation for the bottom that was carved out in the first quarter of 2008. Russell 2000: Bullish pattern on weekly chartsSmall-cap stocks took flight, generating a bullish "engulfing" pattern on weekly candlestick charts. Russell 2000: Friday plunge disconcertingSmall-cap stocks have been consolidating in a mild upward draft off the multi-year lows forged in March, but Friday’s hard slide back below 700 is cause for mild concern. Russell 2000: Critical test at 724 zoneThe critical test for the Russell 2000 remains overhead along the 724 zone; a decisive breach of that area would greatly support the bottoming argument. Russell 2000: Correction, or bottom in the making?If the Russell 2000 sinks back below 660 in the coming week, it would suggest that the recent rally was simply corrective in nature, and not bottom-forming. The stakes are high. Russell 2000: More upside needed for bottom confirmationIf the index maintains upside momentum this coming week, it would strengthen the potential for either a bottom or a solid intermediate corrective bounce. However, if there's a slide back below 650, all bullish bets are off, and the risk to sink into another leg down comes back into play. Russell 2000: Reversal pattern emergesBy most accounts, it was another brutal week for the stock market, and for investors in small-cap stocks. Believe it or not, though, the Russell 2000 left a nifty little bullish reversal pattern on candlestick charts. Russell 2000: Lowest weekly close since Oct 2005After Friday's finish at 660.11, we find small caps at the lowest weekly close since October 2005 and facing critical support at 650. Russell 2000 path of least resistance: DownUntil we see an impressive reversal pattern, we must expect that the path of least resistance will be toward lower prices. Investing 101Technical Analysis: Using the Past to Forecast the FutureDig deeper: technical analysis is an analytical system that looks for buy and sell signals in patterns formed in charts of stock prices.
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