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Technical Analysis with chessNwine

chessNwine
Full-time stock trader. Follow me here and on 12631
Joined Apr 1, 2010
8,861 Blog Posts

Here Comes a Big Test from the Flip Side

chessNwine Fri Mar 28, 2014 10:50am EST 4 Comments

sorority-cuties-spanking

One of my main tells today is how the small caps in the Russell 2000 Index react to testing their 50-day moving average.

On the daily chart, note price is testing it from the underside, after having breached it. If bears truly do have the initiative in a correction here, we should see rejection. A close back over it into the weekend puts shorts in a tough spot.

Elsewhere, I am seeing some oversold momentum leaders try to bounce, but nothing massive is happening yet.

Keep an eye on BBRY over $9.65 as a short squeeze long idea. And gold miners are trying to stabilize as an important support level.

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RUT

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4 comments

  1. TheHarper
    TheHarper
    March 28, 2014 at 11:22 am

    Is that UF?

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  2. TheHarper
    TheHarper
    March 28, 2014 at 11:29 am

    touche

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  3. halloweenpleb
    halloweenpleb
    March 28, 2014 at 11:29 am

    my positions need a spanking like that. just so they wake up into green.

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