RTSI trade ideas
RTS may try to hit 1000 by next weekNo divergence at the prior high, zigzag-shaped waves suggest we are in an ending wedge with w5 missing. The 0.618-0.786 time band for w5 is next week, so I expect RTS to make one last push to the new highs before it reverses. SPX at the same time should either deliver a new high or make a very deep correction to the decline that we already have on hand.
Roadmapping Crude pricing using the RTS indexRTS is the sibling of Crude, but the reason I picked RTS for the analysis is because it shows much more vividly the details of the correction that we are in since 2008, offering a good view on the potential bounce opportunities in H2 2016 as well as on the massive decline that is still ahead.
I believe the correction in Crude and in the related indices that started in May 2008 is a zigzag, with a flat correction in its core B wave.
The flat B wave presumes a good bounce in its C wave, so we are likely to see some rock star performance in Crude in H2, which I think will be fueled to a large extent by a new wave of QE that Janet will prescribe to the ailing market this summer.
Following the bounce, the decline will continue, at a slower pace. I think the whole bear market affair will last at least till 2019, so things will be bad, but not just in one given year, but for many many years to come.
A flat correction in the Russian index, advancing in the C waveThis is what the Russian index resembles. Now it is becoming more clear what the market wants to do. It is a flat correction with A and B being three-wave structures and C being an impulse. The same picture is in UKOIL, while in USOIL the C wave looks fuzzy due to futures switchover at the lows.
In any case, once the correction is over, new lows will be ahead - not just for Russia, but for Crude and SPX as well.
RTS. 4H. Trend is...Considering UP trend, we expect breaking horizontal Triangle UP in direction to Purple Flag target zone. Green Key support is critical for this idea. So work in direction of Triangle breakout ...
RTS global overview 2q 2015Now we can see a major retracement impulse and must wait minor wave stucture to correct current.
