The clearest clue to RUT's Elliott wave pattern from early 2016 is what's happen in 2018.
It appears to be a series of "fours" and "fives" with each of the wave fours an Elliott wave Horizontal Triangle.
The most likely measurement of the move after completion of a Horizontal Triangle is to take the widest distance of the triangle and add this to the end point of the triangle.
The widest part of the Horizontal Triangle from January - May 2018 is 179.04 RUT points, added to the end of the triangle at 1527.71, labeled Minor wave "4" targets RUT 1706.80.
The actual peak labeled Minor wave "5" was 1708.09 a near bulls eye hit!
The widest part of the June - August 2018 triangle is 78.48 RUT points added to the end of the triangle 1663.53, labeled Intermediate wave (4) targets RUT 1742.01 which is very
close to the rising upper trend line. This price target could be hit during the week of August 27 - 31.
Mark
It appears to be a series of "fours" and "fives" with each of the wave fours an Elliott wave Horizontal Triangle.
The most likely measurement of the move after completion of a Horizontal Triangle is to take the widest distance of the triangle and add this to the end point of the triangle.
The widest part of the Horizontal Triangle from January - May 2018 is 179.04 RUT points, added to the end of the triangle at 1527.71, labeled Minor wave "4" targets RUT 1706.80.
The actual peak labeled Minor wave "5" was 1708.09 a near bulls eye hit!
The widest part of the June - August 2018 triangle is 78.48 RUT points added to the end of the triangle 1663.53, labeled Intermediate wave (4) targets RUT 1742.01 which is very
close to the rising upper trend line. This price target could be hit during the week of August 27 - 31.
Mark