Three months ago I suggested that RUT in 2022 to follow the trail it blazed in 2008. If this hypothesis is correct, the index should make some real moves very soon.
In this weekly analysis, I will evaluate the candles that Russell2000 formed on multiple frames. We will discuss technical events on different frames and analyze the long- and short-term perspectives for RUT using Elliott Waves. In addition, I will compare the Russell’s technical events with the ones in SP500, Nasdaq and DJIA. This post is part of the @InvestingAnglesSeries that covers the US and global major indices; volatility and bonds, commodities and miners, crypto and currencies, and some large cap stocks.
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If we listen to $TSLA large candles, we can learn many interesting things. For example: if TSLA does not rally at least 23% in the remaining 20 days of December, it will close the year with a bearish Engulfing combo. What does it mean? I would mean that TSLA would be exploring lower (possibly much lower) prices for at least one more year.
If we look back at TSLA history, there were months, especially recently, when Tesla did better than that. The only one little problem: TSLA closed November with a bearish continuation candle and the odds of moving lower are higher.
In today’s monthly report we will focus on: – evaluation of the candle structures on large frames; – discussion on technical events and their long term impact; – long and mid term targets using Elliott Waves.
The analysis is part of the @InvestingAnglesSeries that covers the US and global indices, Precious Metals and Miners, Crypto, Commodities, Currencies, and some Large Cap stocks. Follow this link here.
Before we begin, I would like to remind that @InvestingAngles ideally forecasted a reversal and a sizeable move for TSLA on September 22nd. I hope you were having fun with a 43% ride down. This call definitely goes to the Track Record.