• 17 hours Apple Stocks Falls After Blowout Earnings Report
  • 17 hours The 5 Biggest IPO Disasters Of 2021
  • 2 days Crypto-Based ‘Shadow Financial Market’ Spooks Regulators
  • 5 days Ireland Balks At Biden’s Global Tax Plan
  • 8 days Robinhood To Trade On Nasdaq Targeting $32B Valuation
  • 11 days Facial Recognition Is Watching You
  • 13 days Biden’s $3.5T ‘Human Infrastructure’ Workaround
  • 13 days The Fed’s $3 Trillion Headache
  • 16 days Why Bitcoin Could Struggle To Recover After Epic Crash
  • 16 days Wells Fargo Back In The Spotlight Over Personal Loan Cancellations
  • 17 days Delta Variant Real Threat To Economic Recovery
  • 20 days JEDI Drama Continues With Microsoft Contract Cut
  • 22 days DiDi Shares Take a Beating From Chinese Regulators
  • 23 days Thousands Of Companies Hit In Latest Ransomware Attack
  • 23 days Jobs Report Has Big Numbers, But Still Big Problems
  • 24 days Robinhood’s ‘Mission’ Questioned in $70M Fine
  • 27 days Didi Just Went Public, And Uber Is Loving It
  • 28 days Islamic Finance On Track To Hit $3.7 Trillion
  • 29 days The Lumber Bubble Is Bursting
  • 33 days A New Entry In The Two Trillion Dollar Club
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to…

Contact Author

  1. Home
  2. Markets
  3. Other

$IWM Russell 2000 Tracking ETF

We have seen a sharp sell off in the Russell 200 Index since the 23rd of June, 2015 however think it is a corrective double three decline from the 129.13 high down to the 108.26 lows of August 24th. We think this is most likely a wxy structure and part of a larger degree decline. Since the 24th of August the instrument appears to have completed a flat wave ((W)) at 115.98 on the 31st, then a double three wave ((X)) at 111.60 on the 1st of September.

While price remains above there we would expect a couple more swings higher in ((Y)) of x toward the 50%-.618 fib zone at 118.69-121.15 with the equal legs 1.236 extension of ((W))-((X)) coming in at 119.37-121.21. Afterwards of completion of the wave ((Y)) of x and a resumption of the larger correction lower we will be able to get an equal legs-1.236 extension area for a potential new swing buy zone opportunity.

$IWM Russell 2000 Tracking ETF Elliott Wave Analysis Chart
Larger Image

 


If you would like to have an access of EWF analysis in real time, click here and feel free to join us. We provide Elliott Wave charts in 4 different time frames, 2 live webinars by our expert analysts every day, 24 hour chat room support, market overview, daily and weekly technical videos and much more.

 

Back to homepage

Leave a comment

Leave a comment