The short‑term Elliott Wave outlook for Dow Futures (YM) indicates that the Index has completed its correction against the cycle from the March 30, 2026 low and has resumed higher. The rally from that low is unfolding as a clear impulse. Within this structure, wave 1 terminated at 50,043, while the subsequent pullback in wave 2 found support at 48,608. From there, the Index extended upward in wave 3, which itself subdivides into another impulsive sequence.
Advancing from wave 2, wave ((i)) concluded at 50,292, as illustrated in the one‑hour chart. The pullback in wave ((ii)) then ended at 49,146, establishing a pivotal low. The Index has since resumed its ascent in wave ((iii)) of 3. From wave ((ii)), the internal wave (i) is expected to complete shortly. Following that, a corrective pullback in wave (ii) should unfold, addressing the cycle from the May 18, 2026 low before the rally resumes. This correction will provide the necessary consolidation for the next upward phase.
In the near term, as long as the pivot at 49,146 remains intact, any pullback should find support. The correction is likely to manifest in a 3, 7, or 11 swing sequence, consistent with Elliott Wave guidelines. The structure remains constructive, and the broader cycle favors continuation higher once the short‑term correction completes.
