I think this pullback is fake
The longer timeframe price action as shown here is unsupportive of the high being in on this move
And the shorter timeframes are becoming oversold
Probably the only thing bears have got going for them at this point is the dollar being oversold
Let’s see what happens!
GRI 2022
- RUSSEL back to 2000
- Seasonally Russel is strong in DEC
- Seasonally Dollar is weak in DEC
- W-pattern + 1st Push unfolded
- Looking for stophunt high and low, then 2nd Push
- 2nd Push is run from 1850 to 2000 = MPP to MR2
- Also Demand-zone and 2 Deviation of Channel
- COT supportive of move higher, Dealers more short and less long
I have higher targets for the dow and spx but as for the russel i'll be going for the minimum 0.618 target and will be bearishly positioned against the TZA Bearish russel ETF.
If the Russel can get above the 61.8% retrace then i think it will make ATHs.
Rut is looking perky
Dow may be getting all the attention but RUT has consolidated at a key zone and there’s no downtrend
As such I’d expect to hit 2000 by Jan
2100 in Q1
And 2500 at some point in H2
NOT TARDING ADVICE
GRI2022
The Russell 2000 index has recently broken above the Cosmic Gravity support channel indicating an oversold status. Take profit is set at "S3 line" and stop loss slightly below the support channel.
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