2007-3-20 2007-3-20 Today, the Dow Jones Industrial Average and Russell 2000 broke out of their recent consolidations and into all-time highs. We believe it is only a matter of days before the NASDAQ Composite, NASDAQ 100, and S&P 500 break our of their consolidations and above their 2007 highs.The first chart is of the Russell 2000. We have mentioned that the index had been in a possible head and shoulder or rectangle formation, but now it looks as if it was in an inverted head and shoulder formation. We have labeled the two shoulders and the head on the chart. Today, the index broke above the neckline in the formation and into all-time highs. If we look at the possibility that the Russell 2000's next move higher will be the length of the head to the neckline (800-770=30), we could see the index moving to the 830 (800+30=830) area before a pullback. text/html 95062 http://www.nasdaqwizard.com/midweek013107.html 1.0 EN index,follow Today, the Dow Jones Industrial Average and Russell 2000 broke out of their recent consolidations and into all-time highs. We believe it is only a matter of days before the NASDAQ Composite, NASDAQ 100, and S&P 500 break our of their consolidations and above their 2007 highs. text