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The Russell looks about done

Posted By Mike On Feb 22, 2010 @ 10:12 am In charts, technicals | 3 Comments

As an index of 2000 stocks, as goes the Russell, so goes the whole market:

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Prophet.net

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Allow for a few days of chop up here and slight new highs, but it would be very pretty if the Russell never saw 630 again after this week. If you want a strong sell signal, wait for a twice or thrice tested top to form, for daily RSI to turn down, and for daily MACD to cross the zero line (red arrow).

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