Dow Futures (YM) has surged to a new all-time high, reinforcing the prevailing bullish trend. The cycle from the April 2025 low remains active and is unfolding as a five-wave impulsive structure. Within this sequence, wave (3) concluded at 48,214. The subsequent decline in wave (4) developed as a zigzag Elliott Wave formation. From the peak of wave (3), wave ((i)) terminated at 47,616, followed by a corrective rally in wave ((ii)) that reached 48,180. The index then declined in wave ((iii)) to 47,488, before wave ((iv)) produced a modest rebound to 47,869. The final leg, wave ((v)), completed at 46,976, marking the end of wave A. A corrective bounce in wave B subsequently peaked at 47,583.
The index then resumed its downward correction in wave C. From wave B, wave ((i)) ended at 47,308, and wave ((ii)) retraced to 47,495. A deeper decline in wave ((iii)) reached 46,894, followed by a brief recovery in wave ((iv)) to 47,207. The final leg, wave ((v)), concluded at 46,575, completing wave C of (4). A bullish reversal has since occurred, with the index breaking to new highs in wave (5). From wave (4), wave ((i)) ended at 47,345, and wave ((ii)) pulled back to 47,031. Wave ((iii)) extended higher to 48,528, followed by a minor retracement in wave ((iv)) to 48,368. One final push higher is expected to complete wave ((v)) of 1.
Subsequently, a corrective wave 2 should unfold to retrace the cycle from the 8 November low. Provided the pivot at 46,575 remains intact, dips are anticipated to find support in the 3-, 7-, or 11-swing sequence, paving the way for further upside.
Dow Futures (YM) 1-Hour Elliott Wave Chart From 11.13.2025
