All right. Seems like there will be no selloff today. The market is hinting that it will take a day or two.
Cannot label out the very first subwaves down. I am basing my judgement on the broken diagonal and overall feeling that the top is in.
Looks like the steam is gone. The diagonal pattern is present. I stay short.
PP level was broken. Let's watch in 2021
Reviewing my counts. RTS has completed wave E and now is in bear territory.
Since wave 3 cannot be the shortest, wave 5 is going to be small. That nicely fits analysis of SP500 and Nasdaq with ending contracting diagonals that do not have much room to advance.
I guess the uptrend in Oil and US markets will give a double boost to RTS
Wave 1 (circle) was shallow. By the rule of alteration, we can expect wave 4 to be deep. That also implies an extended and emotional wave 3 (to create the room for wave 4)