Let’s go through our analysis updates for the Russian stock market index MICEX, from late 2016-12 to mid 2017-02. MICEX is the Russian stock market index denominated in Russian Rubles, while RTS is the index denominated in US Dollars. To get a clear view without the extra interference of currency fluctuations, we prefer to analyze the MICEX, although RTS is often widely quoted both inside and outside Russia.
MICEX hit a new ATH.
Yesterday, the Russian MICEX index hit a new ATH, thus fulfilling an important long term goal our Elliott Wave Theory analysis pointed towards.