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Elliott Forecast

Daud Bhatti

Dow Futures (YM) Pullback Should Find Support in 3, 7, 11 Swing

January 25, 2024 By

Short Term view on Dow Futures suggests rally from 10.27.2023 low ended at 38113 as wave (3). Pullback in wave (4) unfolded as a double three Elliott Wave structure. Down from wave (3), wave W ended at 37470 and wave X ended at 38038. Wave Y lower ended at 37298 as the 1 hour chart below shows. This completed wave (4) in higher degree. The Index has resumed higher in wave (5).

Internal subdivision of wave (5) takes the form of a 5 waves impulse structure. Up from wave (4), wave ((i)) ended at 37897 and pullback in wave ((ii)) ended at 37633. Index then resumes higher in wave ((iii)) towards 38157. Pullback in wave ((iv)) ended at 38061 and final leg wave ((v)) ended at 38302. This completed wave 1 in higher degree. Expect Index to pullback in wave 2 in 7 swing as a . The first 3 swing lower is in progress and can reach 37731 – 37930 where wave ((w)) should end. Afterwards, it should rally in wave ((x)) before turning lower again in 3 waves to complete wave ((y)) of 2. As far as pivot at 37298 low stays intact, expect dips to find support in 3, 7, 11 swing for further upside.

Dow Futures (YM_F) 60 Minutes Elliott Wave Chart

YM_F Elliott Wave Video

Source:-forecast.com/news/dow-futures-ym-pullback-find-support-3-7-11-swing/

25/01/2024 1 EN

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Elliott Forecast

Elliott Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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Daud Bhatti

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