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Re: None

Friday, 08/06/2010 12:17:05 PM

Friday, August 06, 2010 12:17:05 PM

Post# of 51804
RUT- Canary in the coalmine

The RUT was also showing a wave 2 flat, with wave c being an ending diagonal. The RUT, however, failed to make a new high this week as the other US markets did. This indicates another degree of great weakness. The long term downtrend is pretty strong as indicated by

1.) wave 2 flat. This implies wave 3 will be at least 2.6x stronger than wave 1.
2.) wave c of wave 2 flat was ending diagonal.
3.) wave 5 of c of 2 truncated.

Expect a very strong drop in all markets over the next 3-6 months as wave 3 unfolds. Wait a month for the huge consective gap down days to occur.


http://stockcharts.com/h-sc/ui?s=$RUT&p=D&yr=0&mn=4&dy=0&id=p96141801351

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