Russel

Russel [1013] , in the July Long short report I was expecting bounces in emerging markets and US markets to do wave E or 5 in some indices. Wave E was suggested for Russel and Transports, which appear to have completed those structures now and the next leg down has started with negative weekly divergences. This should mean a trend reversal to a one year long rally in the US. The neckline is at 987 on the Russel and 6010 on the Transports [second chart]. The transports shows wave E truncated.