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. Index is currently in Minor wave X pullback to correct cycle from 6/29 low in 3, 7, or 11 swing. Structure of Minor wave X is also unfolding as a double three Elliott wave structure where Minute wave ((w)) ended at 21416 and Minute wave ((x)) ended at 21624.
Minute wave ((y)) of X is in progress towards 21359 – 21409 area before Index resumes the rally or bounce in 3 waves at least. We don’t like selling the Index and expect support to appear at 21359 – 21409 area (if reached) for 3 waves bounce at least.YM_F
1 Hour Elliott Wave Chart
