Dow Jones (DJI) Elliott Wave technical analysis [Video]

DJI Elliott Wave technical analysis

Function: Counter-Trend.
Mode: Corrective.
Structure: Navy Blue Wave 4.
Position: Gray Wave 1.
Next Higher Degree Direction: Navy Blue Wave 5.
Details: Navy Blue Wave 3 appears to be complete, and Navy Blue Wave 4 is currently in progress.

DJI Elliott Wave analysis – Market overview

The DOW JONES Industrial Average (DJI) Elliott Wave Analysis for the day chart indicates a counter-trend scenario, suggesting the market is in a corrective mode. The current structure places DJI in Navy Blue Wave 4, which is part of a larger corrective phase within Gray Wave 1.

This setup suggests that the market is undergoing an intermediate correction before it resumes the broader trend. The next anticipated move is Navy Blue Wave 5, which should follow the completion of Navy Blue Wave 4.

Wave structure and market implications

Navy Blue Wave 3 has concluded, and the market is transitioning into Navy Blue Wave 4.
Wave 4 is expected to be corrective, which means it could show sideways or downward movements before the next impulsive phase (Navy Blue Wave 5) begins.
The completion of Navy Blue Wave 4 is a key turning point for traders, as it will signal the potential beginning of Navy Blue Wave 5, which is expected to move in the direction of the larger trend.

Conclusion

The DOW JONES is currently in a corrective phase within its Elliott Wave structure, with Navy Blue Wave 4 developing after the completion of Navy Blue Wave 3. This movement is part of Gray Wave 1, and the next significant move is projected to be Navy Blue Wave 5.

Traders should closely monitor the completion of Navy Blue Wave 4, as it will provide insights into the timing and direction of the next higher-degree wave. This analysis highlights the importance of understanding Elliott Wave structures to predict potential market movements and refine trading strategies.

DJI Elliott Wave technical analysis

Function: Counter-Trend.
Mode: Corrective.
Structure: Navy Blue Wave 4.
Position: Gray Wave 1.
Next higher degree direction: Navy Blue Wave 5.
Details: Navy Blue Wave 3 appears to be complete, and Navy Blue Wave 4 is currently in progress.

DJI Elliott Wave analysis – Market overview

The DOW JONES Industrial Average (DJI) Elliott Wave Analysis for the weekly chart suggests a counter-trend scenario, indicating that the market is currently in a corrective phase. The structure places DJI in Navy Blue Wave 4, which is part of a larger corrective wave within Gray Wave 1.

This positioning suggests that the market is undergoing an intermediate correction before the broader trend resumes. The next expected movement is Navy Blue Wave 5, which should begin once Navy Blue Wave 4 completes.

Wave structure and market implications

Navy Blue Wave 3 has concluded, and Navy Blue Wave 4 is actively forming.
Wave 4 is corrective, meaning it could involve sideways or downward movements before the next impulsive phase (Navy Blue Wave 5) begins.
The completion of Navy Blue Wave 4 is crucial for traders, as it will indicate the potential start of Navy Blue Wave 5, which is expected to move in the direction of the broader trend.

Conclusion

The DOW JONES is currently in a corrective phase within its Elliott Wave structure, with Navy Blue Wave 4 developing after the completion of Navy Blue Wave 3. This corrective move is part of Gray Wave 1, and the next major movement is expected to be Navy Blue Wave 5.

Traders should monitor the completion of Navy Blue Wave 4, as it will provide key insights into the timing and direction of the next wave. This analysis underscores the importance of understanding Elliott Wave structures to predict potential market movements and optimize trading strategies.