The short-term Elliott Wave analysis for Dow Futures (YM) indicates a cycle from the 1 August 2025 low is forming an impulse. The wave 1 peaked at 45,841, followed by a wave 2 pullback that ended at 44,996. Wave 2’s internal structure developed as a zigzag. From wave 1’s peak, wave ((a)) dropped to 45,183, and wave ((b)) rose to 45,801. Wave ((c)) then fell to 44,996, completing wave 2 at a higher level. The index now trends upward in wave 3.
From the wave 2 low, wave (i) reached 45,844 as a diagonal. A wave (ii) pullback concluded at 45,414. Wave (iii) higher is currently in progress and in the near term, the pivot at 45,996 must hold. If it does, dips should attract buyers in swings 3, 7, or 11, supporting further gains. This analysis highlights a structured upward movement. The wave patterns suggest strength after the wave 2 correction. Traders should watch the 45,996 level closely. A break below could signal a shift. Until then, the outlook favors buyers. Potential target for wave 3 higher is 100% – 161.8% Fibonacci extension of wave 1. This area comes at 47393 – 48871.
Dow Futures (YM) – 60 Minute Elliott Wave Technical Chart:
