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Russel-2000 Long Term Chart

Posted by pugsma on October 29, 2009

Well, a lot of my follow e-wavers are out tonight proclaiming that the Russel-2000 is pointing the way to a P2 top and a big P3 fall.  Not so fast, my friends (in my best Lee Corso voice).  Take a look at my alternate count on the RUT-X daily chart below.   The Russel-2000 could actually be signally the way, to my bullish count that I have been showing as the primary count on the SP-500. 

The RUT-X shows a possible a-b-c (in green) off the Sept 23rd peak.  Leg-c might be finishing up here in the 550 area.  This would put in a nice Wave [4] as showing green.

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