Dow futures ticker symbol: YM short-term Elliott wave view suggests that a bounce to 25845 high ended cycle degree wave “b”. Down from there, cycle degree wave “c” unfolded as ending diagonal structure i.e lesser degree cycles within primary wave ((1)), ((3)) & ((5)) also unfolded in 3 swings structure. Where primary wave ((1)) ended at 25220 low as zigzag structure. Up from there, a bounce to 25594 high ended primary wave ((2)). Below from there, primary wave ((3)) ended at 24515 low in another 3 swings.
Above from there, a bounce to 25075 high ended primary wave ((4)) bounce. Then finally a decline to 24089 low ended primary wave ((5)), which also completed cycle degree wave “c” & super cycle wave (IV) pullback. Up from there, the index made a strong bounce higher & broke the pivot from 25845 thus suggests that the next leg higher in super cycle degree wave (V) could have started. Near-term, while dips remain above 24089 low the index is expected to resume the upside. But a break above 26962 10/03/2018 peak remains to be seen for final conviction of this bullish view & to avoid double correction lower in super cycle degree wave (IV) pullback. We don’t like selling it.
Dow 1 Hour Elliott Wave Chart
