Short Term Elliott Wave View in DAX suggests the rally from 3/7/2022 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from 3/7/2022 low, wave (1) ended at 14925.25 and dips in wave (2) ended at 13391.12. Internal of wave (2) unfolded as a zigzag structure. Down from wave (1), wave A ended at 13566.2, wave B ended at 14315.24. Wave C ended at 13391.1 which completed wave (2) in higher degree. Index has resumed higher in wave (3) with internal subdivision as another 5 waves in lesser degree.
Up from wave (2), wave ((i)) ended at 14226.47, and pullback in wave ((ii)) ended at 13683.59. Expect the Index to end wave ((iii)) soon and then it should pullback in wave ((iv)) before turning higher again in wave ((v)). This should complete wave 1 in higher degree. Afterwards, Index should pullback in wave 2 to correct cycle from 5/9/2022 low. Correction should unfold in larger degree 3, 7, or 11 swing before the rally resumes. As far as May 9, 2022 pivot low at 13391.12 holds, expect short term dips to find support in 3, 7, or 11 swing for more upside.
