Saturday, December 5, 2009

12/4 - Russell 2000

The RUT is showing a pretty clear minute [ii] zigzag off the 553.31 low. I have a minuette (c) ending diagonal in the works to complete [ii] right near the 78.6% retracement level.

If prices peak at the 78.6% level, this would look like a double head and double shoulder. I don't know if such a pattern exists. It is interesting nonetheless.

Anyway, by this count, it looks like a final subminuette v needs to complete before a minute [iii] takes her back down.

We will know shortly.


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