Weekend Update

First of all, the Disqus comment system I originally had was not working, but apparently it just started working but it removed all my old comments.

So in response to the question posted earlier...
          "Rish, I am reletively new EW follower and when I counted for $RUT I get us still in wave 3. To be exact I think we are in 5 of 3 of 1 and that is counting from 7/27 top. Please let me know why you think I am wrong if you get the chance.
Thx
r"

Actually, if you count 7/27 as the top for Minor wave 2, this count is correct... However the count would be [5] of iii of (iii). Here is a rough chart I put together of your count.

But since the SPX, DJI and Nasdaq all made new highs on 8/9, I like to count that as a truncated top for the $RUT. I don't believe that way is wrong, since in the end all of the indices are eventually going to follow one path. So either count is correct.

This is my count from the 8/9 top on the RUT.

So we could get a lower open on Monday, it is not needed, but it would make a nice 3rd touch on the lower trendline.

I will try to have more later on as well.