The Russel 2000 is probably exhibiting one of the clearest Elliotwave counts of all US Indices.
For one we can see a very clearly impulsive 5-wave drop from June 8th highs to June 15th lows.
Next we see a triangle in the middle of the retracement higher since which is a classic middle-of-retracement move.
Triangles are patterns prior to final ending wave...either as a Wave 4 (prior to wave 5) or as a wave B in the middle of an A-B-C 3-wave retracement.
In this case, we count a 5-wave wave A of the corrective A-B-C ---- then the 5 wave middle B triangle pattern (which I mentioned above) and since then the final wave C of the ABC shows 5 wave up.
Since we see a potential 5-wave leading diagonal and a 3 wave retracement which is potentially pointing to the beginning of the next massive wave down - similar to what happened between June 8 and 15.
The triangle pattern in the corrective pattern is what is very clear to me here and which points to the retracement since the June 15th low being a corrective pattern.
If this is indeed correct then the Bearish implications should carry over into the Dow and S&P.
Cheers!
Cyrus
For one we can see a very clearly impulsive 5-wave drop from June 8th highs to June 15th lows.
Next we see a triangle in the middle of the retracement higher since which is a classic middle-of-retracement move.
Triangles are patterns prior to final ending wave...either as a Wave 4 (prior to wave 5) or as a wave B in the middle of an A-B-C 3-wave retracement.
In this case, we count a 5-wave wave A of the corrective A-B-C ---- then the 5 wave middle B triangle pattern (which I mentioned above) and since then the final wave C of the ABC shows 5 wave up.
Since we see a potential 5-wave leading diagonal and a 3 wave retracement which is potentially pointing to the beginning of the next massive wave down - similar to what happened between June 8 and 15.
The triangle pattern in the corrective pattern is what is very clear to me here and which points to the retracement since the June 15th low being a corrective pattern.
If this is indeed correct then the Bearish implications should carry over into the Dow and S&P.
Cheers!
Cyrus
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해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
관련 발행물
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.