Russell 2000 - Bearish Elliott Wave Pattern
Russell 2000 (RUT) appears to have completed an Elliott wave Ending Diagonal Triangle (EDT) from 08/05/24 to 10/16/24.
After completion of an EDT there’s typically a rapid retracement back to the EDT point of origin. In this case the 08/05/24 bottom.
The price zone is near the 2,000 area, and the target time is 11/01/24 to 11/04/24.
Daily Stochastic is still in the neutral zone.
RSI has a bearish cross of its moving average.
MACD has a bearish lines cross.
After completion of an EDT there’s typically a rapid retracement back to the EDT point of origin. In this case the 08/05/24 bottom.
The price zone is near the 2,000 area, and the target time is 11/01/24 to 11/04/24.
Daily Stochastic is still in the neutral zone.
RSI has a bearish cross of its moving average.
MACD has a bearish lines cross.
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