Russell 2000’s Impulse Wave Signals More Upside: Elliott Wave Analysis
An Elliott Wave analysis suggests the Russell 2000 index is in a five-wave rally from the June 9, 2026 low, with further gains expected after a corrective wave ((ii)).
The short-term Elliott Wave count for the Russell 2000 (RTY) points to a developing five-wave impulsive advance from the June 9, 2026 low. Wave ((i)) topped at 3068.4, and wave ((ii)) has since completed as a corrective pullback. The structure implies the index is poised to resume its upward trajectory.
With wave ((ii)) over, the next leg, wave ((iii)), would typically be the strongest part of the impulse. The analysis anticipates an extension higher as long as the June 9 low holds. No specific price target was provided in the update.
Traders following Elliott Wave theory will watch for a break above wave ((i)) high to confirm the impulse. This outlook aligns with a broader bullish trend in small-cap equities, though risk management hinges on the invalidation level at the cycle low.
Source: FXStreet Forex News