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hiker

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Posts: 8,859
Reply with quote  #1 
continued from -

http://forums.technicalwatch.com/post/SPX-1225-prior-horizontal-breakout-value-5536587

November 11, 2011 chart update

the daily RUT to OEX ratio chart shown below provides evidence regarding the trend for "risk-on" or "risk-off" ...RUT represents the risk-on in small caps, while the OEX represents defensive interest in big caps

* notice the ratio has not yet confirmed "risk-on" and the range bound nature of the ratio value shows indecision, for now

sustained daily closes by this ratio above 1.3341 will confirm the "risk-on" chart event, with earlier "warning" signs of the potential confirmation already marked as levels on the chart

* the RUT $770.70 price level is one prior major failed horizontal support which remains some distance above, and it will be important for the bullish case to recapture this level and advance above it

Attached Images
Name: RUT_to_OEX_daily_ratio_-_Nov_11,_2011.png, Views: 36, Size: 70.25 KB



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fib_1618

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Reply with quote  #2 
Nice bit of charting...thanks for the continued updates.

Fib


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