Re: $RUT
I think a case could be made that the $RUT needs to pull back here. June 27 was a little early for the 10-week low.
I'm not saying you're wrong in your interpretation--just that to insist you are right at this point is speculation.
I would like to make a distinction actually between anticipation and speculation. I can anticipate that we launch toward the next 5-week cycle highs from here, but if I put money on it without solid evidence to support my position, I'm speculating. Anticipating is looking at the evidence just as it appears and seeing both sides equally. Speculating is when I move into the territory of wish and hope because I have money on the trade. Nothing wrong with that--except that our perceptions too often become skewed when pressured by wishes and hopes.
I'm writing to myself here and learning from the experience. I see this is the biggest mistake traders make. Not realizing how sensitive our consciousness is. The moment desire pressures consciousness to see things a certain way, our perceptions bend and bow, and what we see may or may not be true.
If the $RUT closes above 645, this will lend credence to your case. I see a real possibility that we pull back first.
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