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In this tutorial, Henry from Elliot with Cash discusses the 60-minute chart of the Russell Index on February 24. He identifies the current market structure, highlighting that the sequence is in a corrective phase labeled as two. The subdivision shows the completion of a minor wave structure (A) followed by a corrective wave (B) formed through a seven-swing pattern (WXY). He notes that the market is still trending downward, implying potential for further decline before completing wave C. Once wave C concludes, it would signal the end of the corrective phase, leading into an upward movement in wave three.
