S WAVE CHARTS

[snootmagruder]

HFTOM, Happy Family Theory of Markets, when one or more member of HFTOM makes new SIGNIFICANT
high or low the others will follow. A recent post of mine commented that there was some failures, NYA a decade or so ago and COMPQ and NDX in 2020 didn't take out 2018 lows. What to watch for, one or two either are early or late and it can be much later that it plays out, this is just another toll in the box and is subject to interpretation. For RUT (IWM as Stockcharts quit having RUT data) we have an unfilled low and the rest of the family is moving on a more recent high now. I do have a theory that is only from memory and would take much time to prove, that the previous needs to finish before the more recent. I would say if the other members all take out the Aug highs then we have an RUT failure, but at this point it has not happened and I have not seen RUT fail yet.
https://stockcharts.com/c-sc/sc?s=IWM&p=60&st=2021-11-01&i=p22209884227&a=1361692571&r=1682769432402&r=1682770269826