Tag Archives: Dow

Dow Futures: End Of Cycle?

Daud Bhatti

Short term Dow Futures (YM_F) Elliott wave view suggest that the rally to 8/08 peak 22177 ended the “Cycle” from Feb 11, 2016 low. The decline from there is unfolding as an impulse suggesting the index could be following a Elliott Wave Zigzag pattern in larger degree correction. From there Intermediate wave (1) ended at 21789 in 5 waves at 21789 low and bounce from there ended in 3 swings at 22070 peak as another zigzag pattern within intermediate wave (2). more…

Dow Futures: Extending Higher

Daud Bhatti

Short term YM_F (Dow E-Mini Future) Elliott Wave view suggests the rally from 6/29 low is unfolding as a double three Elliott wave structure and ended with Minor wave W at 21628. Down from there, Minor wave X pullback unfolded as a running Elliott Wave flat. Minute wave ((a)) ended at 21457, Minute wave ((b)) ended at 21624, and Minute wave ((c)) of X ended at 21446. Index has since made a new high suggesting the next leg higher has started. Up from 21444 low, Minutte wave (w) ended at 21734 and Minutte wave (x) pullback ended at 21632. Near term, Index is pulling back in Sub Minutte wave ii to correct cycle from 7/27 low (2163) then it should turn higher again. more…

DJI Futures: Pull Back In Progress

Daud Bhatti

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. more…

Dow Futures Elliott Wave Analysis

Daud Bhatti

Short term YM (Dow 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 21270 (6/8), and Minor wave 4 ended at 21081 (6/8). Minor wave 5 is in progress and subdivided into a zigzag Elliott Wave structure. Up from 6/8 low, Minute wave ((a)) is expected to complete at 21360 – 21404. Index should then pullback in Minute wave ((b)) to correct cycle from 6/8 low before the rally resumes. We don’t like selling the proposed pullback. Buyers should appear once Minute wave ((b)) pullback is over in 3, 7, or 11 swing. more…

INDU Elliott Wave View: Further Downside

Daud Bhatti

Short term Elliott Wave view in INDU ( Dow) suggest that instrument is showing 5 swings sequence from 3/03 peak (21018) favoring more downside. From 3/03 peak INDU is following a Double three Elliott wave Structure , where Minor wave W ended at 20579 low and Minor wave X ended at 20887 peak. Index has since broken below the 20412 low, suggesting the next leg lower in Minor wave Y has started already. The Internal Subdivision more…