Next Moves on $RTY May Produce a Gigantic Inverse

This is pretty self-explanatory, but the present wave count and prior structure present an interesting possibility. Minor (green) 1 happens to be expected right where we would also project a neckline (based on the size of the initial minute [blue] 1 below us). A pullback for minor (green) 2 would mirror the December structure, giving us an enormous inverse head and shoulders pattern.

RTY


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$IWM Inverse & Target

The possibility that we may still have strongest move ahead of on the US indices (noted here) may be supported by a structure that is forming on $IWM: an inverse head and shoulders pattern. There’s no guarantee that it will break up, but if it does, that target is quite high:

IWM


Note: When my work is first published on this website, it is made available to patrons who support my work through my Patreon account. Over time (usually after a period of a few months), I make 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.