Dow Future Short term Elliott Wave view suggests that Intermediate wave (4) ended at 23205. Intermediate wave (5) rally is unfolding as a 5 waves diagonal Elliott wave structure. Minor wave 1 ended at 24328 and subdivided as a double three where Minute wave ((w)) ended at 23599, Minute wave ((x) ended at 23432, and Minute wave ((y)) of 1 ended at 24328.
Minor wave 2 pullback is complete at 23924 as a Flat Elliott wave Structure where Minute wave ((a)) ended at 24152, Minute wave ((b)) ended at 24325, and Minute wave ((c)) of 2 ended at 23924. Index has since made a new high above Minor wave 1 at 24328, suggesting that the next leg higher has resumed. The break to new high also creates a bullish sequence from Intermediate wave (4) on 11/15 low (23205), favoring further upside. Up from 23924 Minor wave 2 low, Minutte wave (a) ended at 24478 and Minutte wave (b) is in progress to correct cycle from 12/2 low (23924) before the rally resumes. We don’t like selling the Index and as far as pivot at 23924 low stays intact during Minutte wave (b) pullback in 3, 7, or 11 swing, expect Index to extend to new high again.
YM_F Dow Future 1 Hour Elliott Wave Chart
