RTSI seems to align with US indexes and is completing its abcde formation which turned out to be nice and round.
I think it was just the closing bell that saved RTS from sever decline.
I think RTS is in sideways correction on 200 MA support line. Will dive below then retest.
RTSI has lately been defying my outlooks. However now with oil topping and general weakness in global markets it reversed contained by 200 MA on D forming a bearish engulfing. Perhaps it is not the right time to take shorts off.
The Russian market peaked. It looks like there will be no further advance just insignificant correction today and then down sharply.
Would be prudent to keep small shorts while looking to enter more when either the red or green scenario is confirmed.
The corrective bounce is likely to continue for some time on the back of oil and SP500 going up.
this is what I was talking about in the previous post. It has been several months I am testing trading without stops (or at least place them far away to protect from very low probability events only). This time it paid off. The trick with Elliottwave trading is that you often right about the big picture but have to continuously refine the count as the...
The index is tracing out unusual wave combinations. It even makes me doubt whether it is for real or I just see what I want to see.
Despite the bounce what I see in the chart is horrifying.
the count looks complete. With oil being in the crest of wave 3 down and near term bear in US stocks Russian market has a high probability to sink into the abyss