IUX, rejection by uptrend line means...
Ever since the mid-Oct low, Russell 2000 has rebounded and recovered up to ~1175, by end of Oct.
However, for the past 4 weeks, it just finished as 4 weekly DOJI and challenge to 1175 level was rejected 4 times on each attempt. To sum it up, it become a monthly DOJI again
If the rejection from underside of 2009 uptrend is true and materializes, we could see another possible heavy sell down
if Dec candle is a big red marubozu!
However, for the past 4 weeks, it just finished as 4 weekly DOJI and challenge to 1175 level was rejected 4 times on each attempt. To sum it up, it become a monthly DOJI again
If the rejection from underside of 2009 uptrend is true and materializes, we could see another possible heavy sell down
if Dec candle is a big red marubozu!
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