Updated Russell 2000 Roadmap – December 20, 2018 …

To finish off my roadmap work, I’ll now look to small caps and the Russell 2000 Index. For a better, more detailed look at why my wave structure is pointing me this way, review my ES roadmap (click here).

Russell 2000 Index Futures Contract (RUT) – 240 Minute Chart #1

So it looks to me that the RUT is making an ABC correction, and that yesterday we likely completed the 2nd minor wave of the final C-wave move. After a minor bounce, I would argue that we need to head down to the 1.618x extension target to complete the entire price structure.

Russell 2000 Index Futures Contract (RUT) – 240 Minute Chart #2

A closer look at the C-wave shows me that we have likely only completed two of the three waves you typically see in a C-wave. Therefore, I think that the bounce out of yesterday’s low is likely to find resistance in around the 1422 level before flushing down into the C-wave low at around 1280.

Russell 2000 Index Futures Contract (RUT) – 240 Minute Chart #3

The C-wave timing window is similar to the one in the ES and the NQ … Wave C is often 1.0x the size of the A wave, and that would put the expected timing window at the January 2nd during the 6pm – 10pm candle.

Cheers … Leaf_West

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