The RUT looks to be in primary wave 2, like the DOW it can be counted as 5 clean waves up.  Unlike the SPX it made a recent high.  Now it looks like the 61.8% retracement is the target of primary wave [2] and the head and shoulders.

About alphahorn

I received an MBA from Columbia University’s Graduate School of Business in New York and am a Wall Street veteran. I’ve worked for a number of investment banks including Smith Barney and First Boston/C S First Boston in New York. Over the years, I have developed my own Proprietary Swing System and I combine that System with my own Elliott Wave Analysis to trade.
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