S WAVE CHARTS

[snootmagruder]

Trend, There is quite often a temporary show of respect in the price for forks that are not going to turn out right. I imagine all the traders using TLs, forks, MAs, etc. make the little reversals and gap thrus that make a fork look good. The problem is knowing the right position. I like your red fork best, although it's tough to say the blue fork has no value. The red fork is in a position that would be considered more orthodox having the bottom anchored at the exact bottom and the upper two anchors at the largest corrective.Notice price is at the ML and should show some resistance now.

I added a circle to my RUT chart for visual help with what I'm seeing.