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RUT delivered expected drop and is ready to rally again
At 9:10 AM this morning I predicted a drop that “may target Monday’s low at 1,575 but may stretch lower to 1,570 – 1,560. The critical support for Russell index is 1,558. As long as it holds over it we can get another push higher to retest the top of the wave ( iii ) up made at 1,602.10.”
At 11:02 AM I provided additional comments: “it may stretch to 176.4% = 1,561.40.
As long as it holds its critical support at 1,558.30 we should get another rally in wave c of v of ( a ) targeting a higher high.”
Russell bottomed at 1,561.39 at 14.45 PM. I can only repeat that as long as the critical support at 1,558.30 holds we should get a rally targeting the previous top.