Market Outlook RUT for Oct 11th '07

Dominant TF: Weekly and Daily
Swings: UP-UP-DN
Market direction: Up until...

Note that SPY is the leading symbol in our selection of 3 indices.

60mins: neutral to mildly up.
RUT could just as well break this 843 resistance level or hover a little longer and remain in the narrow 838-845 range. The pivot level has also turned to resistance level indicating more difficulty going higher.
Significance levelis still low, so one should rather follow the daily chart for direction, and look at lower time frames for entry/exit points.

Daily: Mildly UP.
AdStoK is still bullish while quite overbought. It should try going higher until the white line shows some weakness and lines cross (very often indicating a decision point).
Current resistance level at 843 is fairly strong then 860 and ultimately 875.
The gradient of the AdStoK Green Line announces a coming crossover within a couple of days. We may then see some slowing down. Such gradient upon crossing should provide interesting information then, particularly about a possible level breakout or not.

Weekly: UP until...
Entropy and AdStoK now show more clearly the way up to 851, 860 then maybe 875 over the next couple of weeks. The Swing indicator is down again, indicating we are very close to a key turning point.