Short term YM (DJI Futures) Elliott Wave view suggests the rally from 4/19 low is unfolding as a diagonal Elliott Wave structure where Minor wave 1 ended at 21010 (4/26), Minor wave 2 ended at 20474 (5/18), Minor wave 3 ended at 21494 (6/19). Minor wave 4 is in progress and subdivided into a double three Elliott Wave structure. Down from 6/19 peak, Minor wave 4 is expected to do 7 swings and reach 21257 – 21221 area. Index should then resume the rally looking for new highs or bounce in 3 waves at least. We don’t like selling the proposed pullback and expect buyers to keep appearing at extremes in the sequence of 7 or 11 swings as far as pivot at 5/18 (20474) low remains intact in the first degree and 4/19 (20311) low remains intact in the second degree.
FWP Network > Forexhound.com > Analysis > Stock Market Analysis > Indices > DJI Futures Elliott Wave Analysis: Pull back in progress
DJI Futures Elliott Wave Analysis: Pull back in progress
By Elliottwave-Forecast.com ()
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June 23, 2017
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Comments Off on DJI Futures Elliott Wave Analysis: Pull back in progress
Indices · DIA, DJIA, Dow Jones, Elliott Wave Theory, ElliottWave, indices, YM_F
Indices · DIA, DJIA, Dow Jones, Elliott Wave Theory, ElliottWave, indices, YM_F

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