For RTY futures that Demand Zone is located in between 33.3% and 41.4% retracement ( 2,110 and 2,024).
Russell is approaching a strong Demand Zone
The Daily count in RUT (cash index) considers that move down as a minor corrective wave -4- down.
That decline should be followed by another strong rally in wave -5- of ( C) of ( 3 ) up targeting 2,680.
Normally wave -4- down of (C) of ( 3 ) up retraces 33.3% or 41.4% of the preceding rally in wave -3- up.
In this case 33.3% retracement = 2,115 and 41.4% retracement = 2,030.
RUT (cash index) Daily chart updated at 8-30 AM on 12-15-2021
RTY Daily chart updated at 8-30 AM on 12-15-2021
RTY Daily chart updated at 8-30 AM on 12-15-2021
RTY Daily chart updated at 8-30 AM on 12-15-2021
Trading is risky. Read this important Disclaimer
HIGH RISK WARNING
Trading stocks, options, or futures carries a high level of risk, and may not be suitable for all investors. Before deciding to trade, you should carefully consider your objectives, financial situation, needs and level of experience. CastAway Trader LLC provides general overview of trading methods that does not take into account your objectives, financial situation or needs. The content of this website must not be construed as personal advice. The possibility exists that you could sustain a loss in excess of your deposited funds and therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading. You should seek advice from an independent financial advisor. Past performance is not necessarily indicative of future success.