IWM Bounce Emerges from Blue Box Zone

Elliottwave_Forecast
08-25 21:48

IWM (iShares Russell 2000 ETF) has been unfolding a bullish impulse from the March 23, 2026 low, maintaining a higher‑high sequence that favors continued upside. Our strategy guided members to avoid selling and instead buy dips in 3, 7, or 11 swings at defined blue box areas.

August 20, 2026 (1‑Hour Chart Update)

  • Rally from July 29 low ended wave 3 at $305.20.

  • Wave 4 pullback unfolded as a zigzag correction:((a)) ended at $299.64.((b)) bounced to $303.58.((c)) reached the blue box at $297.39–$293.54.

  • Buyers were expected to emerge from this zone for the next leg higher or at least a 3‑wave bounce.

August 24, 2026 (1‑Hour Chart Update)

  • IWM reacted strongly higher after completing the zigzag correction in the blue box.

  • Members secured risk‑free positions shortly after entry.

  • A decisive break above $305.20 is needed to confirm the next leg higher toward $307.88–$311.24, before profit‑taking and another pullback in 3 or 7 swings.

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  • flipzy
    ·08-26 18:22
    305.20 is the trigger, but 312.50 looks like the real test if volume shows up. Small caps still need follow-through, otherwise this bounce can fade fast
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