Elliott Wave View: Dow Futures (YM) Extends Higher

Rally from February 1, 2021 low in Dow Futures (YM) is unfolding as a 5 waves diagonal Elliott Wave structure. Up from February 1 low, wave 1 ended at 32033 and pullback in wave 2 ended at 30512. Index then resumed higher in wave 3 towards 33116 and wave 4 pullback ended at 31952. Internal of wave 4 unfolded as a double three Elliott Wave structure. Down from wave 3, wave ((w)) ended 32314, wave ((x)) ended at 32689, and wave ((y)) ended at 31952.

Index has turned higher in wave 5 and broke above previous wave 3 peak at 33116, suggesting the next leg higher has started. Up from wave 4, wave (i) ended at 32768 and dips in wave (ii) ended at 32553. Index then resumed higher in wave (iii) towards 32984, and wave (iv) ended at 32746. Final leg higher wave (v) of ((i)) ended at 33134. Index is now correcting cycle from March 25 low in wave ((ii)) before the rally resumes. As far as wave 4 pivot low at 31952 stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.