Trading Ichimoku » RUT

Russell 2000 (RUT) : Kumo supporting the RUT

iam802 — Wed, 12 May 2010 13:54:21 +0000

Look at how the RUT is being supported by the kumo for the last 2 sessions.

We should see some resistance at around 702 and 710

If it retrace and continue to be supported at 680, the bullish trend is in tact for RUT.

iam802 — Sun, 09 May 2010 16:27:53 +0000

Compared to the SPX, RUT’s bearish Tenkan sen – Kijun sen cross comes later.

RUT is currently trading within the kumo with a support level at around 640.

And this will be the first level it will test. Noticed how Thursday’s system drop tested this level and rebound.

If RUT, breaks 640, we are targetting 590 next.

Noticed how the leading kumo has starts to twist and if it does breaks support, the leading kumo will shows the change in trend as well.

iam802 — Thu, 06 May 2010 15:05:40 +0000

RUT has break session low and is now challenging support at 690.92

iam802 — Wed, 05 May 2010 14:11:56 +0000

RUT (along with many other counters) gap down on opening today.

It has since tried to fill the gap within the first half an hour.

Currently, it is just trading and hanging near to the support level 702.18 as indicated by the Chikou Span.

I doubt it will hold, unless Euro zone comes out with some positive news.

A fall below this will see our next target level shift to support at 678.

iam802 — Tue, 04 May 2010 16:31:21 +0000

RUT has break its support at 710.3

This support level is identified by both the Chikou Span and the Kijun sen (trend line).

With the whipsaw movement over the past few days, and the breakdown from this support level, this could be the beginning of a major correction.

Catalysts at this moment seems likely to be from the PIIGS.