Monday, March 5, 2007


While the bulls have pulled the Dow-30 dead cat out of the freezer and are getting some decent bounce out of it, the broader Russell 2000 remains weak - weak enough to retrace back to the November breakout levels. Chart to the left shows 50 week moving average at 750 getting close to coming into play. Notice the 100 week moving average further below at the 708 level. 100 week has not been broken in nearly 5 years. If things really get bad in the broader market, this would be my buy signal area.

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