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Russell 2000 outlook points to further upside in Elliott wave plan
The analysis says the move higher from the June 9, 2026 low is in wave (iii), with key support at 2,903.3.
Action Forex laid out a short term Elliott Wave interpretation for the Russell 2000 (RTY), describing the rally from the June 9, 2026 low as a five wave impulsive structure. It said wave ((i)) ended at 3,068.4 before a corrective pullback in wave ((ii)) finished at 2,903.26.
The outlet then described the one hour chart as showing progress in wave ((iii)), including a substructure that took wave (i) to 2,976.3, wave (ii) down to 2,905.3, and wave (iii) up to 3,058.3. It also cited a minor correction in wave (iv) that concluded at 3,002.
According to the view, the index is positioned to extend higher in wave (v) to complete wave ((iii)) at a higher degree. After that completion, the analysis expects a corrective phase in wave ((iv)), and says that as long as the 2,903.26 pivot holds, dips are expected to attract buyers.
Latest closeRussell 2000 3,027.12 ▲0.3%