Slope of Hope Blog Posts
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Market Vectors Russia ETF (RSX) is following through on its downside path. However, so far, it hasn’t yet broken its June low of 17.62, so the potential for a move back to 19.03-19.55 in wave c of (ii) remains, which would have me looking to add to the short.
If 17.62 is broken, it appears likely that such move would find support in 17.08-17.27 range, to be followed by wave ii of (iii) up.
Whether through a high bounce or not, I think the odds are good that RSX will complete its downward pattern before expiration.
Originally published on ElliottWaveTrader.net, by Xenia Taoubina.
Well, she didn’t top-tick it, but over the long haul, she sure came close (tip o’ the paw to Duke of Dubai, who reminded me of this little gem, which I had forgotten about).
Here’s today’s swing-trading watch-list:
Short Arris Group (ARRS)
An oft-cited short idea continues to perform…..