Elliott Wave suggests right side in Dow Futures (YM) firmly bullish [Video]
|Dow Futures (YM) shows incomplete Elliott Wave bullish sequence from 4.19.2024 low favoring further upside. Rally from 4.19.2024 low is unfolding as a 5 waves impulse. Up from there, wave 1 ended at 40213 and pullback in wave 2 ended at 38111. Wave 3 higher is now in progress with internal subdivision as another impulse. Up from wave 2, wave (i) ended at 39174 and pullback in wave (ii) ended at 38436. Wave (iii) higher ended at 39999 and pullback in wave (iv) ended at 39488. Last leg wave (v) ended at 40006 where it also completed wave ((i)) in higher degree.
Pullback in wave ((ii)) unfolded as a zigzag structure. Down from wave ((i)), wave (a) ended at 39595 and wave (b) ended at 39730. Wave (c) lower ended at 39448 which completed wave ((ii)) in higher degree. The Index has extended higher in wave ((iii)). Up from wave ((ii)), wave i ended at 40200 and dips in wave ii ended at 40014. Wave iii higher ended at 40572 and pullback in wave iv ended at 40279. Near term, expect wave v of (i) to complete soon, then it should pullback in wave (ii) to correct cycle from 7.9.2024 low in 3, 7, or 11 swing before it resumes higher. Near term, as far as pivot at 39448 low stays intact, expect pullback to find support in 3, 7, 11 swing for more upside.
YM_F Elliott Wave [Video]
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