RUT is possibly developing a thrust after completion of a triangle which we forecasted long ago in March.
RUT in March:
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In the weekly overviews we discuss the recently formed candles and formations. We use multiple techniques and statistical analyses to project targets and evaluate probabilities of the next moves for the index.
But before we deep dive, we will share our track record of RUT forecasts.
Story of Forecasting
In January 2020 we forecasted a disaster which happened at the end of February 2020. Obviously, nobody believed at that time (to describe the reaction mildly), but you probably remember that RUT ended at $966 in March 2020 losing over 40% in a few weeks.
After March 2020, RUT followed our bullish projection and rallied as if there was no tomorrow. The rally ended in November 2021 and we posted this update below.
After our call RUT completed the first wave down and has been consolidating for almost a year. The image below is taken now. As you can see, it has all major elements as in November 2021.
This was a nice retrospective, but the burning question is about the next moves which we will discuss today.
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