Tuesday, January 10, 2006

Russel near a Top?

Here is a picture of the weekly Russel

Globetrader_09

I applied 2 ABC patterns to this chart. One starting in August 2004 which called for a 716 top in September 2005 and a second on (red) starting in April 2005 which now predicts a symetrical top at 723. Of course the uptrend in the Russel is still intact, so it has still room to rollover. But never forget: What goes up, must come down

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