The Russell 2000 (RUT) still ideally needs another wave ((iv)) up and ((v)) down to finish off this larger wave C of (4). However, we are getting really close to the lower end of the larger degree support zone that I laid out.
Resistance for the wave ((iv)) bounce currently comes in at the 1263-1312 zone, and as long as that zone holds to the upside then I still am looking for another wave ((v)) of C of (4) down prior to this forming a lasting bottom.
All of that said, ideally I would not want to see a sustained break of that 1052 level if we are going to hold the larger degree pattern. So if we do indeed continue to move lower I will be keeping a close eye on that level.