Russell 2000

21 Jan 2022 ‚óŹ 05:48 AM

I am making a change to my wave count on the Russell 2000. I did not want to consider the small 5 wave rally in November as the 5th wave because it was very small compared to wave 1. But after the most recent correction, it might be apt to say that the 5th wave was truncated and the subsequent decline is an ABC correction at a larger degree. Having said that we are already in wave C down and in minor wave iii of wave C. One little bounce up and final decline may be pending before wave C is complete. Wave C and wave a will be equal close to 1998. In short, we might still have some more volatility with respect to US stocks before putting in a bottom.

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