Elliott Wave View: Dow Jones Futures can soon Starts Correction
We are counting the entire rally from December 26, 2018 low as an Impulse Elliott Wave structure. An Impulse has subdivision of 5 waves within wave I, III, and V. And wave III is currently in progress. Internal of wave III subdivides in another 5 waves in lesser degree.
On the 1 hour chart, we can see wave ((4)) of III ended at 24862 and wave ((5)) of III is still in progress as another 5 waves of a lower degree.
Blue wave (1) ended at 25622 peak, wave (2) at 25273 and wave (3) ended at 25950. Below from there, it ended blue wave (4) at 25748 as flat correction. As long as the pivot at 25748 stays intact, it can extend 1 more time in blue wave (5) of black wave ((5)) of higher degree wave III before a pullback in wave IV can be seen. We dont like selling it as right side is to the upside.
On the 1 hour chart, we can see wave ((4)) of III ended at 24862 and wave ((5)) of III is still in progress as another 5 waves of a lower degree.
Blue wave (1) ended at 25622 peak, wave (2) at 25273 and wave (3) ended at 25950. Below from there, it ended blue wave (4) at 25748 as flat correction. As long as the pivot at 25748 stays intact, it can extend 1 more time in blue wave (5) of black wave ((5)) of higher degree wave III before a pullback in wave IV can be seen. We dont like selling it as right side is to the upside.
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