[RUSL] approaching a likely EW-defined reversal point

After calling a peak on RUSL some time ago near the top, I have been looking for likely reversal points for this ETF.  Since I'm modeling this as 2 or B I always knew a deep vee 2nd was possible and now we are just about at the limit where this has to reverse else my count will be busted.

In the backlink I provided the model below.  Anyone who used this model just saved themselves 25+% from the time that I issued it. 


As you can see from above, I was modeling a bottom in 5 waves down to the 11.75 level (the bottom of the numeral is what I had in mind as a low  So I suspect this might have a buck left in it to the downside but in the likely event that it breaks back up into the channel, that will be the buy confirmation for this model.

Folks, commodities are beaten to shit, Russia is a marginal commodity player, at least in terms of US financial scam ridden markets.  When commodities go up, RUSL is going to sky rocket to a higher high than before AS LONG AS the December 2014 low of $10 holds.  If that cannot hold, stop out no matter what.




The bigger chart is below.  The first 5 waves down was A according to the model  The throwunder of the lower rail after respecting all the way down makes it count as the 5th wave down of a falling wedge which I count as W2C.  

If this model is correct it should soon begin to reverse upward and break through the lower rail.  That is the first confirmation that the reversal is in.  If I'm right about this, the next likely bounce point is at least $60 and could be $120.