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GENERAL ELECTRIC COMPANY, HELIOS AND MATHESON ANALYTICS INC, SPDR S&P 500, ADVANCED MICRO DEVICES, INC., SPDR SELECT SECTOR FUND - FINANCIAL, ISHARES MSCI EMERGING INDEX FUND
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I have marked the potential downside support lines for the next bear move of the Rusell 2000 which @the_unwind spotted leading the pullback. There is, of course, nothing to stop a huge piece of macroeconomic news changing the direction to upwards continuation, but the technicals say otherwise. Markets are losing impetus at these levels.
A CASE FOR A 5TH WAVE
THE CHARTS POSTED IS SOMEWHAT CLEAR
In an idea posted on July 13, I warned about a forthcoming potential major market correction in RUT (see below). At that time RUT had completed four of the five primary Elliott waves started in 2009, four of the five intermediate waves started in 2016 and one of the five minor waves started in Feb this year. I was expecting RUT to touch the 1800 level before ...
Watch for strength!
Russell 2000 index has been moving up in a sequence of five Elliott waves since 2009. This progress is coming to an end in a few months.
It has completed four of the five major waves on a monthly time frame (dark blue). The fifth wave that has been in progress since 2016 has already completed four of the five waves. It is currently going up in the fifth ...
Trading inside quarterly SD3 territory $IWM