Report
Eric Morera

Elliott Wave Perspective: Dow Futures (YM) Poised to Continue Its Rally

The short-term Elliott Wave perspective for Dow Futures (YM) indicates that the wave IV pullback concluded at 40725, as illustrated in the 1-hour chart below. The Index has begun to climb in wave V. However, it must still surpass the prior peak of 45227, set on January 31, 2025, to eliminate the possibility of a double correction downward. The rally from the wave IV low has so far unfolded in three swings. For greater confidence in continued upward momentum, it’s advisable to wait until a five-swing pattern emerges.

The rally from wave IV is expected to develop as a five-swing diagonal Elliott Wave structure. From the wave IV low, wave ((i)) peaked at 41905, followed by a wave ((ii)) pullback that bottomed at 41587. Wave ((iii)) then advanced to 42388, with the subsequent wave ((iv)) pullback concluding at 41769. The final leg, wave ((v)), reached 42544, marking the completion of wave 1 on a larger degree. The ensuing wave 2 correction then found its low at 41751. From that point, the wave 3 rally reached its peak at 43148, followed by a wave 4 pullback that bottomed at 42459. In the near term, as long as the pivotal low at 40725 holds, anticipate that any pullback will attract buyers within a 3, 7, or 11-swing pattern, paving the way for further upside.

Dow Futures (YM) 60 Minutes Elliott Wave Chart

YM_F Video
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Source:-forecast.com/news/elliott-wave-view-dow-futures-ym-looking-extend-rally/
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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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Eric Morera

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