Elliott Wave view: Russell 2000 surges to record high, launches fresh bull cycle [Video]

Russell 2000 Futures (RTY) has broken to a new all‑time high, initiating a fresh bullish cycle. The rally from the March 30, 2026 low concluded with wave (1) at 2918.4. Afterward, the Index corrected in wave (2), which ended at 2728.3, as shown in the one‑hour chart. The internal subdivision of wave (2) unfolded as a double three Elliott Wave structure. From the peak of wave (1), wave W finished at 2807.9, while wave X ended at 2881.4. Wave Y then moved lower and completed at 2728.3, marking the end of wave (2) in higher degree.

With the correction complete, the Index resumed its advance and broke above the wave (1) high, confirming that wave (3) has begun. The rally from the wave (2) low is unfolding as a five‑wave impulse. Wave 1 of (3) is expected to finish soon. A pullback in wave 2 should then correct the cycle from the May 19, 2026 low in either three or seven swings before the rally resumes. In the near term, as long as the pivot at 2728.32 remains intact, pullbacks are likely to attract buyers in three or seven swings, supporting further upside.

Russell 2000 60-minute Elliott Wave chart

Russell 2000 Elliott Wave [Video]