Russel

The current MAP Wave count on the Russel is 4H-1 of D-1 of W-3 of M-1

It is highly likely that the Russel has topped (details below) which means last Summers high will not be exceeded and will not be seen again for many years.

The gold fork shows the current monthly trend channel.

Pivots -2 and 2 often fall outside of this fork and turn at the next scale down ML parallel, or even at times a further scale down, and so this adds to the likely hood of this top being pivot W-2.

The current weekly channel is shown by the bold red fork.

Below we can see that this top has been made in the expected area of the intersection of the weekly MLU (upper parallel of the current trend channel) and the latest weekly ML.

Below we can see clearly that W-2 has pierced the weekly MLU and changed trend. The new trend channels are shown as follows – daily purple, 4H blue and H lime green. Note that there is a confluence of median lines coming up in the next few days. Often this is an area where a pivot is made OR A RAPID MOVEMENT through to the next MLL.

So where to from here? I am expecting the next weekly pivot to be below W-1 of 601.71, in the area of the intersection of the latest weekly channel MLL and the current weekly ML towards the end of this year around 525. Remember this is not a straight line – there should be 5 daily pivots, 5 4H pivots, 5 H pivots 5 10 minute pivots, plus numerous sub pivots on the way! So expect at least 125 trade able opportunities on the way!

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