Market Outlook RUT for Sep 27th '07

Dominant TF: 60mins & weekly
Swings: UP-UP-DN
Market direction: neutral to mildly UP. Key 812 level still in place.

60mins: neutral to mildly Up
The major 812.50 resistance level is still there and the AdStoK recovery ("V" shape pattern) seems to stall before completion (lines crossing). Entropy is also peaking. Consequently, probable congestion to mild upward bias ahead. 812 remains the key level for RUT's forthcoming direction.

Daily: neutral to mildly UP, possible congestion.
AdStoK is somewhat bullish but is losing steam, so is Entropy, indicating some difficulties going much higher.
One has to first wait how RUT behaves around this key 812 level (head & shoulder?). If 812 is passed, the target will be 827-829 (Fib + MM), otherwise 797 - 800 will be tested again.

Weekly: neutral to mildly UP
Entropy is showing signs of bottoming up, and AdStoK could very slowly building a "U" shape pattern, so RUT could creep slowly to 843 over the next few weeks.
There could however be some hesitation around this 812 key level first, so we need this level to be passed to confirm this scenario. One cannot indeed discard another scenario if 812.50 keeps holding... which is a Fib formation with a 750 target.