Browse Stacks: Analytics: Elliott Wave: $RUT Weekly LOG 6.22.14.png
$RUT Weekly LOG 6.22.14.png
$RUT weekly log: This is a follow up a post I made on 10/18/13. At that time I said: "One pattern formation that is described in EWT is a five wave overlapping top in which usually each wave is made up of 3 sub waves (A-B-C). Often there is a final push just above the top line at the end of wave 5 (labeled 55 on my weekly chart). That is the way I see the formation of IWM. If correct we may see a quick jump above the top line followed by a reversal. Supposedly the reversals tend to be relatively fast often going back to the start of the formation which is a long way down."
This possibility still seems likely to me. After creating this chart this morning I was very happy to see I am in agreement with at least one person. See the excellent chart of TnRevolution. Have a great week.
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