Dow Futures (YM) Eyeing Last Upside Push in Wave 5

The short-term Elliott Wave outlook for Dow Futures (YM) indicates that the cycle from the April 2025 low continues as a five-wave impulse. As shown in the 1-hour chart, wave (3) of this impulse peaked at 47,323. The subsequent wave (4) pullback unfolded as a zigzag Elliott Wave structure. From wave (3), wave ((i)) declined to 47,014, followed by a wave ((ii)) rally to 47,162. Wave ((iii)) dropped to 46,693, wave ((iv)) rose to 46,938, and wave ((v)) concluded at 46,507, completing wave A. Wave B bounced to 46,883, and wave C extended lower to 45,391, finalizing wave (4) in the higher degree.

The Index has now turned higher in wave (5), but it must break above wave (3) at 47,323 to rule out a double correction. From wave (4), wave ((i)) reached 46,467, with wave ((ii)) pulling back to 45,663. Wave ((iii)) advanced to 46,743, wave ((iv)) dipped to 46,395, and wave ((v)) completed at 46,915, concluding wave 1. A wave 2 pullback is currently underway, correcting the cycle from the October 11 low before resuming higher. As long as the pivot low at 45,391 holds, expect the pullback to find support in a 3, 7, or 11-swing sequence, setting the stage for further upside.