Dow Future Short term Elliott Wave view suggests that Intermediate wave (4) ended at 23204. The rally from there is proposed to be unfolding as a double three Elliott wave structure. Minute wave ((a)) of 1 ended at 23599 and Minute wave ((b)) of 1 ended at 23432. Near term focus is on 23828 – 23922 to complete Minute wave ((c)), and this should also end Minor wave 1 and cycle from 11/15 low. Afterwards, Index should pullback in Minor wave 2 in 3, 7, or 11 swing to correct cycle from 11/15 low before the rally resumes. We don’t like selling any proposed pullback and expect buyers to appear again once Minor wave 2 pullback is complete in 3, 7, or 11 swing provided pivot at 23204 low stays intact.
YM_F Dow Future 1 Hour Elliott Wave Chart