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RTY - the rally in wave ( c ) of ( v ) has begun
I have been talking about Russel needing another push higher in wave ( c ) of ( v ) to complete the five wave rally off Dec 2018 low.
And at this point it looks like we had a very shallow ( b ) down (1,566.90 made on 2 May 2019). And it is working on another micro rally off that low.
That is the problem with those corrective waves b. They can be deep but they can also be super shallow.
The main direction of the trend is up. And there were too many bears who used that drop as a lucky opportunity to cover their underwater shorts.
RTY - 120 min chart updated at 3:41 PM on 5/6/2019
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