Elliott Wave View: Dow Futures (YM) Looking for Further Upside

11 Des

Short Term Elliott Wave in Dow Futures (YM) suggests rally from 11.5.2024 low is in progress as a 5 waves diagonal. Up from 11.5.2024 low, wave ((i)) ended at 44625. Pullback in wave ((ii)) ended at 42999. The Index has resumed the rally higher in wave ((iii)). Up from wave ((ii)), wave (i) ended at 43563 and wave (ii) pullback ended at 43181. The Index nested higher in wave (iii). Up from wave (ii), wave i ended at 43749 and wave ii ended at 43445. Wave iii higher ended at 45121 and wave iv pullback ended at 44790. Wave v higher ended at 45171 which completed wave (iii).

Pullback in wave (iv) ended at 44680 and final leg wave (v) completed at 45176. This also ended wave ((iii)) in higher degree. Wave ((iv)) pullback is now in progress to correct cycle from 11.19.2024 low in 3, 7, or 11 swing before it resumes higher again. Down from wave ((iii)), wave (w) ended at 44261. Expect a rally in wave (x) followed by a wave (y) lower to end wave ((iv)) before it resumes higher. Near term, as far as pivot at 43000 low stays intact, expect the Index to extend higher.