RTY- looks like its getting lower but so far has not broken an uptrend

My micro count has nailed the top of that rally. In my previous post I wrote:

“The micro structure looks completed and today Russell futures hit my target short area.”

It stopped right at the edge of my red target box. Off that top it has been following a textbook impulsive structure where wave iii down has tagged 185.4% extension of the wave i down. Then we got a pullback in the afternoon that retraced 50% of the wave iii down. That pullback could be all of the corrective wave iv up. This is the count on the chart above. Off that afternoon lower high we should get a final a-b-c move down to a new lower low in wave v down. Those five waves down would be the first move off the top in wave ( a ) down. Then we may get a nice pullback in wave ( b ) up where we may re-short it.

However, as you can see on the chart above, RTY has not broken down under long term moving average colored in magenta. Moreover, it has not broken down under the red dashed trend line. If it breaks under them we could expect it to come back up in wave ( b ) up and retest the broken trendline from below.

Below you can see a little different scenario where wave iv up has yet to be completed with another move up. I do not consider that count as highly probable. Because wave iv up has tagged a classic retracement fib of the wave iii down.

Alt - RTY - 15 min chart updated on 7 February 2019