RUSSELL - keeps grinding up in wave A of ( B ) up

The count has not changed since my previous update. In the previous post I pointed to the he next important resistance level at 1,507 (50% retracement of the drop in wave ( A ) down . Today Russell closed at 1,520. The next two important fibs will be 1,547 and 1,563. Moreover, 50 moving average on weekly is currently at 1,579.

However, as I reported earlier today, on a micro level an impulsive structure of that wave A up counted on Russell futures looks very much completed. Bears should stay patient. And bulls who were late to join the party should get rid of idea to catch the very last thrust up. This is exactly where many newbies let themselves get in trouble.

RUSSELL 2000 - weekly chart updated on 5 February 2019

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