|10:57 AM - 5 Min|
7:39 AM - Looks like the bears wanted to launch wave iii down afterall. I added the alternate bear count as well.
The market is now below the 50 DMA with a daily MACD bear cross. Keep in mind the RUT chart I posted over the weekend.
From a bullish perspective, the corrective count has now reached an appropriate Fib retracement level.
I will stop out of my longs below the 62% retracement level.
|7:39 AM - 5 Min|