In this technical blog, we will look at the past performance of the Daily Elliott Wave Charts of SPY. In which, the rally from 07 April 2025 low ended in an impulse sequence & showed higher high sequence in weekly structure therefore, called for an extension higher to take place. We knew that the structure in SPY should remain supported & extend higher. So, we advised members not to sell the ETF & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:
SPY Daily Elliott Wave Chart From 3.29.2026
Here’s the Daily Elliott wave Chart from the 3.29.2026 Weekend update. In which, the rally to $697.84 high completed wave ((1)) & made a pullback in wave ((2)) to correct the cycle from 4.07.2025 low. The internals of that pullback unfolded as Elliott wave double three correction where wave (W) ended at $662.39 low. A rally to $683.36 high-ended wave (X) bounce. Then started the next leg lower in wave (Y) towards $643.41- $618.72 blue box area. From there, buyers were expected to appear looking for new highs ideally or for a 3-wave bounce minimum.
SPY Latest Daily Elliott Wave Chart From 5.17.2026
This is the latest Daily Elliott wave Chart from 5.17.2026 Weekend update. In which the SPY is showing a very strong reaction higher taking place, right after ending the double correction within the blue box area. Allowed members to create a risk-free position shortly after taking the long position at the blue box area. Since then the ETF already made a new high confirming the next leg higher targeting $847- $899 area before profit taking & next pullback takes place.
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