# Russell 2000 ETF (IWM) — Elliott Wave count, Nov 6, 2026

Russell 2000 ETF (IWM) Elliott Wave count at the Nov 6, 2026 close (price 273.64): the called count is minor 5 of an unfinished intermediate (3) of primary 3 of cycle V. It is invalid below 252.77. On the daily chart, intermediate (3) of primary 3 up from $171.73 (2025-04-07), in progress — minor 5 of (3) under way from $269.88, targeting 336.43 (invalid below 171.73).

Source: https://elliottwaveatlas.com/markets/iwm · Data: https://elliottwaveatlas.com/data/markets/iwm.json

## Called count
Minor 5 of an unfinished intermediate (3) of primary 3 of cycle V. Invalid below 252.77.

Structure: V: 95.69 (2020-03) / 244.46 (2021-11) / 161.67 (2023-10) / live; primary 3: 161.67 / 244.98 (2024-11-25) / 171.73 (2025-04-07) / live; (3): 171.73 / 252.77 (2025-10-15) / 228.90 (2025-11-20) / 305.18 (2026-08-14) / 269.88 (2026-10-16) / minor 5 live.

What comes next: minute iii toward $285.63-$295.58, then minutes iv and v carry minor 5 to a new high toward $336.17-$342.70 (the daily $336.43), inside minor 5's $359.82 cap.

## Levels by timeframe
| Timeframe | Degree | Wave | Target | Invalidation | Time window |
|---|---|---|---|---|---|
| Monthly | Cycle ↑ | cycle V up from $95.69 (2020-03), in progress — primary 3 of V running | 467.09 | 95.69 | 2029-08-01 → 2035-05-27 |
| Weekly | Primary ↑ | primary 3 of cycle V up from $161.67 (2023-10-23), in progress — intermediate (3) running | 413.02–737.41 | 161.67 | 2029-08-01 → 2035-05-27 |
| Daily | Intermediate ↑ | intermediate (3) of primary 3 up from $171.73 (2025-04-07), in progress — minor 5 of (3) under way from $269.88 | 336.43 | 171.73 | 2027-01-12 → 2027-01-12 |
| Hourly | Minor ↑ | minor 5 of intermediate (3) up from $269.88 (2026-10-16 14:30), in progress — minute i ended at $285.26, minute ii an expanded flat ended at $270.23, minute iii under way | 336.17–342.7 | 269.88 | 2026-11-07 → 2027-12-22 |
| 15-minute | Minute ↑ | minute iii of minor 5 up from $270.23 (2026-11-06 09:30), in progress — subminuette i to $273.65 (10:15), ii to $271.52 (10:30), iii under way to $274.55 (15:30) | 285.63–295.58 | 270.23 | 2026-11-09 → 2026-11-27 |


## Recent changes to the call
- 2026-10-16: new — minor 4 inside an unfinished intermediate (3) of primary 3 of cycle V

---
Elliott Wave Atlas — free to quote with attribution and a link. Educational and informational only. Not investment advice. Elliott Wave counts are probabilistic scenarios and can be wrong.