An analysis for bears, as median lines of pitchforks seem unlikely to be tagged.

I like comparing the DJI and the NYSE; they both look similar in structure. The NYSA seems to have a "cleaner look" and (IMO) can likely be used to trade instruments going with and against the DJI.

The move off the October 2022 low, while impressive, looks corrective. Both the DJI and NYA obtained their ATHs on 20 May 2024. Unlike the NDX and SPX, neither have formed new highs since that time.

Both the DJI and NYA had what looks like impulse waves down from their ATHs, with corrective moves back up towards their ATHs.

The NYA has a triple combo down from January 2022 high to form an (a), a double combo (zigzag, green; regular flat, blue) up from October 2022 low to form a (b).

Bears now see the DJI and NYA looking for their primary (c) to complete the expanded flat starting in January 2022. Therefore, as long as 40077.40 holds as resistance for the DJI and 18421.9171 holds as resistance for the NYA, I'm looking for impulse waves down to complete the (c), with target bottoms below October 2022 lows.
Elliott WaveFibonacciPitchforks

Disclaimer