VOX ETF short-term Elliott wave analysis suggests that the rally to $87.38 high ended primary wave ((1)) as an impulse with extension. Down from there, the pullback to $84.10 low ended primary wave ((2)). The internals of that pullback unfolded as Elliott wave zigzag correction where intermediate wave (A) ended in 5 swings at $85.24. Intermediate wave (B) bounce ended at $86.18 and intermediate wave (C) of ((2)) ended in another 5 waves at $84.10 low.
Up from there, the instrument made a new high above $87.38 peak confirming the next extension higher in primary wave ((3)). The internals of rally is taking place in another impulse with an extension where Minor wave 1 ended at $85.43 in lesser degree 5 waves. Down from there, Minor wave 2 ended in 3 swings pullback at $84.15 low. Above from there, Minor wave 3 remains in progress as another impulse structure in lesser degree cycle with Minute wave ((i)) of 3 ended at $85.75. Minute wave ((ii)) of 3 ended at $84.75 low and Minute wave ((iii)) of 3 is expected to complete soon. Afterwards, the instrument is expected to do a pullback in Minute wave ((iv)) of 3 in 3, 7 or 11 swings before further upside towards $89.87-$91.24 100%-123.% Fibonacci extension area of primary wave ((1))-((2)) is seen. We don’t like selling it.
VOX 1 Hour Elliott Wave Chart
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