In the backlink I gave a threat model which still has not resolved itself yet. As before, RUSL remains temporarily trapped between near term support and resistance lines.
With a break below the lower rail, this model, in which RUSL has already bottom and is now ready to spring into the 3rd wave up....
...turns into the model where C of 5 of a falling expanding wedge has not expressed itself yet. All I can say is, let this one stop out of your portfolio easily on Tuesday if it is weak at the open, especially if you get a gap down at the open as modeled in the red path below.
Saturday, September 5, 2015
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