RTY-mini: Goes Down After Breaking Under 1,800 support

I called the previous update posted yesterday: “A Break Under 1,800 Would Trigger A 100+ Point Drop”.

Today RTY dropped under support 1,800, then came back up to re-test it from above. Bulls failed to reclaim that support and RTY made another move down:

That decline can be counted as subwave -c- down and therefore should have a clean five ave down susbdivision.

We can count that decline as a micro wave i down to be followed by a corrective consolidation in wave ii up (we can get a corrective whipsaw caused by release of CPI numbers tomorrow).

As long as RTY holds under 1,800 we can consider any a-b-c bounce as an attractive short trading setup.

I pay a lot of attention to RTY-mini futures because RTY has been very hones with us. It has been following cleaner wave counts. We can call it “the truth teller”.

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