So far, there are clearly three waves down off the 7/1/14 high and now three waves up off the 10/15/14 low. There is daily MACD -ve divergence building, which would support the case for one more test of the range low (108x).
The bulls argument will be that wave [4 is complete and that the RUT will finally breakout of the yearlong range and continue channeling
(red) higher.
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| RUT - Daily |
