Elliott Wave Analysis: VOX in a Turning Area

Hello Traders,

Today we will have a look at the VOX ETF in the 1-hour chart.

Near-term the ETF ended the cycle from 06/28/18 low (84.09) in blue wave (1) at the peak of 07/12/18 (88.26). The internals of blue wave (1) unfolded in a 5 waves Elliott Wave impulse with an extended red wave 3, where it ended red wave 1 at the peak of 06/28/18 (85.43) and red wave 2 pullback at the low of 07/02/18 (84.16). Up from that low, red wave 3 ended at 07/10/18 peak (88.04) followed by a pullback in red wave 4 at the low of 07/11/18 (87.11). Up from there, it ended red wave 5 of blue wave (1) at the peak of 07/12/18 (88.26).

Below from that peak, VOX is correcting the cycle from 06/28/18 low, where red wave W ended at 07/17/18 low (86.75) and the correction in red wave X ended at 07/17/18 peak (87.79). Below from there, the ETF has reached the equal legs extreme from 07/12/18 peak at 86.31-85.96 areas where we are now expecting a reaction higher.

As long as the pivot at 84.09 low in our proprietary distribution system stays intact it should resume the rally. We don’t like selling it as the right side remains to the upside in the sequences of 3-7-11 swings.
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