Market Outlook RUT for Oct 1st '07

Dominant TF: weekly & 60mins to an extent
Swings: DN-UP-DN
Market direction: neutral to mildly UP. Key 812.50 level still in place.

60mins: Mildly down. Possible congestion in [800-812] trading range
It seems like the market has now given up on the 812.50 key level, and now is momentarily pausing.
A new support must be found lower (Fib pattern forming).

Daily: neutral to mildly UP, probable congestion.
AdStoK is still bullish but is certainly losing steam, so is Entropy, indicating some difficulties going much higher.
Looking ahead: If 812.50 is finally passed, the target will be 827-829 (Fib + MM), otherwise 797 - 800 will be tested again. Retracement is however likely, without even impacting the overall trend.

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 812.50 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 down formation with a 750 target.