The short‑term Elliott Wave view in Russell 2000 (RTY) shows that the rally from the June 9, 2026 low is unfolding as a five‑wave impulsive structure. From that low, wave ((i)) concluded at 3068.4, followed by a corrective pullback in wave ((ii)) which ended at 2903.26. The one‑hour chart highlights this development clearly. The Index has since advanced in wave ((iii)), which subdivides into another five‑wave sequence of lesser degree.
From wave ((ii)), wave (i) finished at 2976.3, while the subsequent pullback in wave (ii) ended at 2905.3. The Index then resumed higher in wave (iii), reaching 3058.3, before a minor correction in wave (iv) concluded at 3002. This sequence suggests that the Index is poised to extend further in wave (v), thereby completing wave ((iii)) at a higher degree. Once wave ((iii)) is complete, the Index should undergo a corrective phase in wave ((iv)). It should retrace part of the advance before the next upward leg in wave ((v)) resumes to complete the cycle from the June 9 low.
In the near term, as long as the pivot at 2903.26 remains intact, dips are expected to attract buyers. Corrective phases should unfold in either three or seven swings, offering opportunities for renewed strength.
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