Russell 2000 index -0.19% has been moving up in a sequence of five Elliott waves since 2009. This progress is coming to an end in a few months. It has completed four of the five major waves on a monthly time frame (dark blue). The fifth wave that has been in progress since 2016 has already completed four of the five waves. It is currently going up in the fifth wave. Interestingly, if you check the weekly chart below, the fifth wave is also nearing completion. It has completed four sub-waves (green) and is currently in the fifth sub-wave! If you zoom in further and go to the daily time frame, the fifth sub-wave is currently in the second micro wave (turquoise). After the completion of the correction, this wave is going to extend to around 1800 level and then start the correction (see below). The correction is expected to take Russell down to around 1300 levels (red waves).