Russell 2000 Intraday Rocket Ride Update.

I guess there was more rocket fuel left, giving the extra push higher than anticipated.  This rally is bigger physically,  than all the other counter rallies which gives me the confidence to bump up my degree levels by 1.  If this wave 2 scenario is reasonably accurate, then the 1350 price level will get completely retraced, and then left in the dust, as the next leg down in a bear market revels itself.  If we are close, then this could take until October or late November before we hit another strong bottom.

I’m looking for the initial zigzag in a potential Cycle degree flat where I need two sets of 5 wave runs. They can both be diagonal, but they usually alternate between a simple 5 waves and or a set of complex waves, as long as there is some alternation I will use it in a zigzag. The next leg down does not have to be another zigzag, but a diagonal set of 5 waves would also work. I keep both versions as potential patterns and use them over and over, as the only thing that changes is the degree.

At the last two major bottoms the Russell 2000 is building a huge base that will provide a bottom for the next 200 years or more. The impending Cycle degree 4th wave bottom, will be the third set of 4th wave bottoms with each 4th wave bottom cranking up by one degree level. At major tops each wave 3 must also notch up by one degree level, which makes the 2029 time period a potential SC degree wave 3 top.

Hurricane Harvey is starting to die down, but hurricane Irma is starting to form in the Atlantic. Yes, it seems that hurricanes forming “during” hurricane season,  is  “unprecedented” to the global warming alarmists. Catchwords like “catastrophic” are also constantly used, which is part of the brainwashing tools used by the fear mongers.