IWM Elliott Wave Analysis
IWM tracks the Russell 2000 index of small-cap US companies. It is a key indicator of domestic economic health and risk appetite.
IWM tends to lead or lag SPY at major turning points. Small-cap wave structures can be messier due to lower liquidity, but weekly charts provide reliable counts. Wave 3 extensions are typically shorter than SPY.
Key levels at $200, $220, $240. The Russell often diverges from large-cap indexes at cycle turns.
IWM breadth divergence with SPY is a powerful signal. When IWM confirms SPY's bullish wave count, the rally has broad participation.
H4 Wave Count
4-hour timeframe for precise entry timing
Daily Wave Count
Primary trading timeframe structure
Weekly Wave Count
Macro context and trend direction
Fibonacci Targets
Precise price targets from wave structure
Invalidation Levels
Exact price where the count is wrong
Alternative Scenario
What happens if the primary count fails
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Updated before London open, every trading day. H4, Daily, and Weekly wave counts with precise Fibonacci targets.