IDEX Corporation (IEX) Elliott Wave Weekly Analysis
IDEX Corporation (NYSE: IEX) is showing signs of completing its wave (2) correction within a broader bullish Elliott Wave cycle. The long-term chart highlights a strong impulsive trend that began in the early 1990s. Since then, the stock has advanced through multiple Elliott Wave degrees, forming a sustained upward structure.After peaking around late 2021, IEX entered a corrective phase. This move is labeled as wave (2) and is forming a classic A-B-C zigzag correction. Wave A and B are already complete, while wave C is likely in its final stages. This suggests the pullback could soon end, setting the stage for a bullish reversal.
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