Russell 2000 Short: Expecting 3rd Wave

5 Nov

I haven't updated Russell 2000 in a while since I suggested the triple combination and a short. Nevertheless, here's the updated wave counts since then and right now I see another opportunity to short. As you can see, the stop is above recent high. However, I also put in a note that says to be ready for a z-wave. Meaning the small upmove recently could be a wxyxz instead of a simple abc. I am not sure why, but it seems like triple combinations are getting more and more common and one really has to be wary of such persistently unhealthy correction.