The short-term Elliott Wave analysis for the Russell 2000 (RTY) indicates a five-wave impulse cycle from the May 23, 2025 low. Wave (1) peaked at 2296.5. Pullback in wave (2) corrected to 2146.8. Wave (3) surged to 2510.3, as shown on the one-hour chart. Dips in wave (4) formed a zigzag correction. Wave A dropped to 2448.5, wave B rose to 2459, and wave C fell to 2412.15, completing wave (4).
The Index resumed its rise in wave (5). Wave 1 reached 2468. Wave 2 dipped to 2424.7. This wave subdivided into a double three structure. Wave ((w)) ended at 2428.7, wave ((x)) at 2457, and wave ((y)) at 2424.7. The Index then advanced in wave 3 as an impulse. Wave ((i)) hit 2473.2. Pullback in wave ((ii)) corrected to 2448.5. Wave ((iii)) climbed to 2515. Wave ((iv)) fell to 2486. Final wave ((v)) peaked at 2518.5, completing wave 3. Wave 4 corrected as a zigzag, ending at 2464.6. As long as the 2412.15 low holds, dips should find support in a 3, 7, or 11-swing pattern. This suggests more upside soon. The Index remains poised for further gains if the pivot holds.
Russell 2000 (RTY) – 60 Minute Elliott Wave Technical Chart:
