This page shows the preferred current count for the RUSSELL2000 (RUT) in more detail. Please refer to the wave-labeling page to see which degree waves each is. This page will be updated a few times per month. Please refer to the “RUT big picture count” page for the larger degree waves over the past 10+ years.
Last update June 10, 2019.
Last week the lower (green) Target zone was reached! Bingo! Back then a diagonal or larger b-wave bounce was still possible. The market chose the larger b-wave bounce option. looks like a little bit more upside is possible, but not necessary. Next question is if ALL of red b-already topped or only wave-a of b… Time will tell. I’ve no data to tell me yet one or the other. So be nimble out there.
Note the alternate count is now that a wave-1, 2 have been put in place and wave-i of 3 is now underway. Ultimately we need to see a move OVER the resistance zone and the May high to tell that is indeed transpiring. So keep it on the back burner. IF it happens there will be PLENTY of upside left to trade going into 2020-2021. For now the focus remains down.