Tuesday, June 29, 2010

$SPX and $RUT with this morning's data...

Charts updated End of Day, 3:00 CST...





It continues to look as though the $RUT could bottom earlier than the $SPX by as much as a week, but that's just an eyeball estimate from these charts, and it could still happen on the same day, as there is overlap between the two charts. In any event that moment is a ways off yet, so no worries...

Update, Comment: The $SPX has dropped below it's small decline channel, we'll see if it recovers tomorrow. If the decline is accelerating, then the date for the near term bottom may move up, the timing obviously depends on integrity of the smaller channel...

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