And $RTY Looks Equally Miserable

As with some of things I just discussed, I want to add to that discussion by looking again at the Russell.

The rally from the 6/16 low looks awful, a clear slop of 3-waves (for orange “2”). And it was followed by a good impulse wave (green 1). And from there, slopfest. Not a good look, and not a good bottom. Combine that with the H&S here, and the near channel strike (that purple structure) and it makes me think the pulse above the 2018 & 2020 highs is a nice, fat trap.

RTY

I don’t like how this looks, and I think it will fail.


Note: When articles are first posted, most of them are made available only to my Patreon supporters (I do try to publish some public posts on occasion). Over time (usually after a period of a few weeks or so), I make all of the work public. To gain access to my work when it is produced, please consider becoming a patron. More information may be found on my About page and on my Patreon page. In a nutshell, patrons of any denomination (you get to pick the amount) will be able to read my weekend analyses, Tier 1 members ($20/mo.) get access to all of the articles I write, and Tier 2 members ($35/mo.) get access to those, plus counts on other instruments and my Discord chatroom.


Leave a Reply

Your email address will not be published. Required fields are marked *