CME Group Inc. (NASDAQ: CME) continues to maintain a strong long-term bullish structure based on the Elliott Wave analysis. Despite periods of sharp corrections and volatility, the broader trend remains constructive, suggesting that CME could continue advancing as the current impulsive sequence develops. The long-term Elliott Wave count shows that CME has been progressing through a series of impulsive waves since the major low following the 2008 financial crisis. The advance has developed in a clear five-wave structure, with multiple subdivisions supporting the broader bullish count.
More recently, CME completed a significant corrective phase during the 2022–2023 period, labeled as wave II. From that low, the stock began a new impulsive advance in wave III. Waves ((1)) and ((2)) have already been completed from that low, with price subsequently accelerating higher as wave ((3)) develops. The current focus is on wave ((3)), which is targeting a break above the previous high near 318. A sustained move above this level would further support the bullish structure and confirm continued strength in the current impulsive sequence.
Based on the current Elliott Wave count, we expect wave ((3)) to extend toward the equal legs of wave ((1)) around 398.46. This projection suggests that CME could have significant upside potential before a major pullback develops. The bullish outlook remains valid as long as price holds above the key 217.29 level. A break below this level would invalidate the current bullish setup and require a reassessment of the wave count.
Summary
For now, CME remains firmly bullish, with the Elliott Wave structure favoring continued upside toward 398.46 before any major correction. As long as 217.29 holds, the path of least resistance remains higher.
