Short Term Elliott Wave View in Dow Futures (YM) suggests that rally from 10.27.2023 low is in progress as a 5 waves impulse structure. Up from 10.27.2023, wave 1 ended at 34315 and pullback in wave 2 ended at 33913. The Index then rallied higher in wave 3 towards 38012 and pullback in wave 4 ended at 37390 as the 30 minutes chart below shows. Wave 5 higher is currently in progress as another 5 waves structure.
Up from wave 4, wave (i) ended at 37878 and dips in wave (ii) ended at 37604. Wave (iii) higher ended at 38026, and pullback in wave (iv) ended at 37876. Final leg wave (v) ended at 38089 which complete wave ((i)). Pullback in wave ((ii)) ended at 37758 with internal subdivision as an expanded flat. Down from wave ((i)), wave (a) ended at 37841, wave (b) ended at 38113, and wave (c) lower ended at 37758 which completed wave ((ii)). The Index has resumed higher in wave ((iii)). Up from wave ((ii)), wave (i) ended at 38070, and pullback in wave (ii) ended at 37857. Near term, as far as pivot at 37390 low stays intact, expect the Index to extend higher.
