RUT, Russell 2000 update

rut 24 10 2013 brut 24 10 2013 s

We are not entirely sure that this can actually be a 5th wave expanding diagonal but we sure do prefer that to Jaws of this or that. We have sharpened the pencil to the point where today we can say that ,also on a semi-log scale, the Russell 2000 has reached the upper trend line. As always, a slight throw-over should  be anticipated, but having said that, any sensible person should get out here and not  risk giving back a good part, or most likely all,  of this move from 350 to 1150.