[RUSL] update

Here is the backlink for RUSL and my model from that post.





Current chart and model are below.  To summarize, those who believe in wave counts and act based on them saved themselves a major beating in RUSL since my last post.

To further summarize, in the model above I was expecting that this final wave down would be 5 waves in structure and ultimately hit a slightly lower low than the last two bottoms.  In other words, the Dec 2014 bottom as 3, the May 2015 peak was 4 (or A of 4), Aug 2015 bottom was 3 of 5 or B of 4 with primary count being 3 of 4.  Thus the Oct peak would be 4 of 5 and everything since then is working on 5 of 5.

Assuming this begins to turn down very soon, the buy price should still be in the $9 range according to this model but we have to be careful because Frost and Prechter warned in their first book that 5th waves often extend in commodities and RUSL is all about the commodity driven Russian economy.  When this thing bottoms this time it is going to be a percentage screamer folks.  The dollar will have peaked the Rouble should see a nice reversal of fortune with more and more positive news about Russia in 2016.

Of course price targets are never as important as wave counts, not even close.  So count the waves; don't just react on price targets.