The Russell 2000 Index (RUT) completed a 90 move off the March low approximately 30 days ago. Price has undergone an A-B-C corrective move off the high. Will this complete as an A-B-C or extend down with five waves? I don’t know. My guess is that it will but I may be wrong.
The ValueLine Arithmetic Index (VLE) is in a similar position. Price is about 5% above the 1×2 angle off the March low. The time of the correction is near 30 days.
Volume was off today and back to the low summer pattern that began several weeks ago.
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Tags: Growth Stocks (RUT) · Value Line Arithmetic Index (VLE)No Comments
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