Russell 2000, 2000-2018 Update And The Impending Bear Market

As the world is hypnotized by the biased news coverage of the Nasdaq, DOW and the SP500, not very many wave analysts think the Russell 2000 is important. It’s important because of that big triple bottom base just below the 350 price level. Since 1998 all three bottoms were built on 4th wave bases. This is a huge base which has implications of providing the landing spot for another 4th wave bottom, but in Cycle degree. When the time comes, I’m sure the mass media will try and distract us all, by creating super bearish forecasts in the other indexes that I cover.

The Russell 2000 is not going to go to zero, and the Russell 2000 might be one of the indices that will show its bottom first. Since the 2002 bottom the next  bottom has increased by one degree. After 2032 we could be at a Supercycle degree 4th wave bottom.

Even if the Russell 2000 goes deeper than anticipated, it will not change any big wave count or degree labeling I presently have. Price is not the dominate factor in forecasting, but the pattern is. The Russell 2000 could land at 400, 350 or even reach the 300 price level, but it will not change the sequential degree levels one bit.

All the analysts are forecasting rosy fundamentals in support for higher prices yet to come. Ok, but who are all these bullish forecasters preaching to, which haven’t  heard about this bull market?  They are talking in a building that is full of average Joe investors already which means there is nobody left to come in!  Only the retail sector of investors is jumping in, but historically they always get in at record highs.

The professional contrarians have already, “left the building “, but analysts call this “profit taking”, justifying the continuation of this bull market. They will use any type of  an excuse, and twist everything to justify the reasoning for this market to keep going higher.

All of the 5 major indices that I cover have been in world record price territories, never before seen in financial history. It will not miraculously correct 20% in just a few months, and then carry on with a new leg to the upside, it could still take 2-3 years. From 1929-1932 it took 3 years to play out a SC degree correction, so a Cycle degree correction, will not take a generation or decades to play out.

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