The short-term Elliott Wave view from the E-Mini Dow Jones Futures (YM) suggests that the trend will continue upwards within the sequence that began at the April 2024 low as part of the daily sequence. Since the April 18, 2024 low, wave 5 of (5) supports the upside, but the downside has risen above the low of 40053. Since the April 2024 low of (4), wave 1 has been placed at the high of 40213, wave 2 at the downside pullback at the low of 38111, and wave 3 at the high of 41672. Wave 4 has ended as a clear 3-swing zigzag pullback at the low of 40053, and wave 5 supports the upside. This is a confirmation of a rise above the high of 41672 to avoid a double correction below the low of 40053. The four corrections included ((a)) a low of 40466, ((b)) a high of 40795, and ((c)) a low of 40053, missing the isobar area four times before resuming upside.
If it crosses the 4 low, then ((i)) of 5 could be placed at 41051 high, then a corrective pullback at ((ii)) could be favored, and it could rise above the 40053 low to ((iii)). Within ((i)), (i) was placed at 40685 high, (ii) at 40158 low, (iii) at 41029 high, (iv) at 40863 low, and finally (v) at 41051 high as ((i)). Among ((ii)), (a) could be placed at 40606 low, then it could bounce at (b), then it could drop at (c) and end at ((ii)). As long as it remains above the 40053 low, it could resume the uptrend at 5, extend towards the 42052-42671 area, and end the impulse that started from the April 2024 low before correcting downwards. Alternatively, a break below the low of 40053 could result in a double correction towards the 39432 levels or below before resuming upside.
E-Mini Dow Jones Futures (YM_F) 60 Minute Elliott Wave Chart
YM_F Elliott Wave Video
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