Elliott Wave Analysis by EWF

[Elliottwave-Forecast]

Short Term Elliott Wave in EURUSD suggests rally from 4.16.2024 low unfolded as a 5 waves impulse Elliott Wave structure. Up from 4.16.2024 low, wave ((i)) ended at 1.0753 and pullback in wave ((ii)) ended at 1.0649. The pair extends higher again in wave ((iii)) ended at 1.0812 and correction in wave ((iv)) towards 1.0723 low. Then the pair extend higher in wave ((v)) with internal subdivision as an impulse in lesser degree. The 1 hour chart below shows the subdivision of wave ((v)).

Up from wave ((iv)), wave (i) ended at 1.0790 and dips in wave (ii) ended at 1.0760. EURUSD then extended higher in wave (iii) towards 1.0870 and pullback in wave (iv) ended at 1.0831. Final leg wave (v) ended at 1.0895 which completed wave ((v)) and wave 1. The pair then started a correction in wave 2 and we are calling as a flat structure. First leg lower ended wave ((a)) at 1.0804 low and bounced to retest the highs as wave ((b)) ended at 1.0889. Near term, as far as pivot at 1.0895 high stays intact, expect dips to find support to end wave 2 correction before further upside.

EURUSD 60 Minutes Elliott Wave Chart​

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Source: https://elliottwave-forecast.com/forex/elliott-wave-analysis-correction/

 

[Elliottwave-Forecast]

Immutable X (IMX) is the native token of a layer-two scalingi solution for Non-Fungible Tokens (NFTs) on the Ethereum blockchain. In today’s article, we’ll explore the Elliott Wave path taking place within the daily cycle.

Since December 2022, IMX rallied higher within a regular impulsive 5 waves structure. This move established the wave ((1)) after +900% to the upside and it reached a high of $3.76 in March 2024. Down from there, IMX started a corrective 3 waves decline within a ZigZag structure to correct the entire rally.

The coin lost 55% of its value and it managed to end the wave ((2)) after it reached the blue box area at equal legs $1.94 - $1.15. Consequently, IMX found buyers for an initial reaction higher form there and it's expected to remain supported above April low $1.67 to continue the rally to the upside within wave ((3)) looking for an upside target at $5 .

$IMX Daily Chart 5.29.2024​

Setup Recap

-Time Frame : Daily
-Entry Area : $1.94 – $1.63
-Invalidation Condition : Daily Close below $1.14
-Targets / Ratio : Target 1 at $5 (3.8 RR) – Target 2 at $7 (6.4 RR)
Source: https://elliottwave-forecast.com/video-blog/immutablex-imx-signals-upside/

 

[Elliottwave-Forecast]

Short Term Elliott Wave in AMD suggests the rally from 5.01.2024 low is in progress as an impulse. Up from 5.01.2024 low, wave (1) ended at 174.56 as the 30 minutes chart below showing. Wave (2) pullback is currently in progress. The internal subdivision of wave (2) takes the form of a double three Elliott Wave structure. Down from wave (2), wave ((a)) ended at 168.75 low and wave ((b)) bounce ended at 171.51. The stock extended lower in wave ((c)) towards 162.91 which completed wave W.

The market rallied starting wave X also taking the form of a double three Elliott Wave structure. Up from wave W, wave ((w)) ended at 168.75 and pullback in wave ((x)) ended at 164.00. Wave ((y)) higher is in progress. We are looking a bounce in 3 swings to 169.88 - 173.51 area to end wave ((y)) and also wave X connector. Near term, as far as pivot at 174.56 high stays intact, expect the stock to extend lower.

AMD 30 Minutes Elliott Wave Chart​

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Source: https://elliottwave-forecast.com/st...-analysis-on-amd-suggest-a-double-correction/

 

[Elliottwave-Forecast]

Hello fellow traders. In this article we’re going to take a quick look at the Elliott Wave charts of IBEX published in members area of the website. IBEX is showing impulsive bullish sequences in the cycle from the 10502.5 low. Recently we got a 3 waves pull back that has ended right at the Blue Box zone (buying area). In the further text we are going to explain the Elliott Wave Forecast and trading setup.

IBEX Elliott Wave 1 Hour Chart 05.29.2024​

IBEX remains bullish against the 10820.15 pivot. The index is currently giving us a wave ((iv)) black pullback, appearing to unfold as a Double Three pattern. We can count 7 swings from the peak , reaching extreme area at 11134.8-10997.55 blue box ( buying zone). From that zone, IBEX should ideally make a rally toward new highs or 3 waves bounce alternatively. As our members know Blue boxes are based on 100% – 161.8% Fibonacci extension area , that we trade in 3, 7, or 11 swing corrective sequence.

Once the price touches the 50 fibs against the (x) blue connector, we’ll make positions risk-free and set the stop loss at breakeven and book partial profits. Breaking below the 1.618 Fibonacci extension level at 10997.55 would invalidate the trade.

Official trading strategy on How to trade 3, 7, or 11 swing and equal leg is explained in details in Educational Video, available for members viewing inside the membership area.

Quick reminder on how to trade our charts :

Red bearish stamp+ blue box = Selling Setup
Green bullish stamp+ blue box = Buying Setup
Charts with Black stamps are not tradable.

IBEX Elliott Wave 1 Hour Chart 05.25.2024​

IBEX found buyers at the Blue Box area as expected, resulting in a strong reaction from our buying zone. The index has now reached and exceeded the 50 fibs against the (x) blue high. Members who took the long trade are now enjoying profits in risk-free positions. We are looking for a break of the ((iii)) black high to confirm that the next leg up is in progress.

Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room



Source: https://elliottwave-forecast.com/trading/ibex-elliott-wave-buying-blue-box/

 

[Elliottwave-Forecast]

GDXJ, or the VanEck Vectors Junior Gold Miners ETF, is an exchange-traded fund that tracks the performance of small-cap gold mining companies. It provides investors exposure to junior gold mining companies, which are typically smaller and more volatile than their larger counterparts. This ETF offers a convenient way for investors to gain diversified exposure to the junior gold mining sector without having to select individual stocks. Below we update the Elliott Wave outlook for the ETF.

GDXJ Monthly Elliott Wave View​

Monthly chart of Gold Miners Junior ETF (GDXJ) above shows the ETF broke higher from multi year consolidation. Wave ((II)) grand super cycle ended at 16.14 and the ETF starts a new leg up from there. Up from 16.14 low, wave (I) ended at 52.5 and dips in wave (II) ended at 19.52. The ETF then extended higher as a nest. Wave I of (III) rally ended at 65.95 and wave II pullback ended at 25.80. While dips stay above 16.14, expect the ETF to extend higher.

GDXJ Daily Elliott Wave View​

Daily Elliott Wave Chart of GDXJ above shows wave II pullback ended at 25.8. The ETF then rallies higher in wave III. The internal subdivision of the rally unfolds as a 5 waves impulse. Up from wave II, wave ((1)) ended at 41.16 and pullback in wave ((2)) ended at 30.56 with internal structure as an expanded flat. Up from there, wave (1) ended at 47.25 and dips in wave (2) is in progress to correct cycle from 10.4.2023 low in 3, 7, or 11 swing before the rally resumes.

GDXJ 4 Hour Elliott Wave View​

4 Hour Elliott Wave view of GDXJ above shows that rally from wave ((2)) low at 30.67 unfolded as an impulse. Up from wave ((2)), wave 1 ended at 39.82 and wave 2 pullback ended at 30.89. The ETF resumed higher in wave 3 towards 44.7 and wave 4 pullback ended at 39.55. The ETF then extended higher in wave 5 of (1) towards 47.54. Pullback in wave (2) is in progress to correct cycle from 10.5.2023 in 3, 7, or 11 swing before the rally resumes.

Source: https://elliottwave-forecast.com/stock-market/gold-miners-junior-etf-gdxj-pullback-find-buyers/

 

[Elliottwave-Forecast]

Hello fellow traders. In this technical article we’re going to take a look at the Elliott Wave charts charts of S&P 500 E-Mini (ES_F) Futures published in members area of the website. Our members know ES_F completed cycle from the 4964 low as a 5 waves pattern. Currently the futures is giving us correction against the mentioned low. In this discussion, we’ll break down the Elliott Wave pattern and forecast.

ES_F Elliott Wave 1 Hour Chart 05.31.2024​

ES_F reached extreme zone from the 5369.47 peak at 5244.9-5186.7 area. The futures shows clear 5 waves from the high, suggesting pull back is unfolding as Elliott Wave Zig Zag pattern. ES_F is about to complete first leg ((a)) black of 2 red. We expect rally in wave ((b)) to happen any moment. We recommend members to avoid selling the futures and keep favoring the long side.

Official trading strategy on How to trade 3, 7, or 11 swing and equal leg is explained in details in Educational Video, available for members viewing inside the membership area.

ES_F Elliott Wave 1 Hour Chart 06.02.2024​

ES_F found buyers at the extreme zone as expected. The index has reacted strongly from the Equal Legs Area. Rally from the low looks impulsive, which suggests we are about to complete first leg of wave ((b)) recovery, which is also unfolding as Elliott Wave Zig Zag pattern. As far as the pivot at 5368.81 pivot holds, another leg down can be see once ((b)) black completes.

Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts with target levels in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room

New to Elliott Wave ? Check out our Free Elliott Wave Educational Web Page and download our Free Elliott Wave Book.



Source: https://elliottwave-forecast.com/stock-market/forecasting-bounce-elliott-wave-es_f/

 

[Elliottwave-Forecast]

Short Term Elliott Wave in Dollar Index (DXY) shows incomplete bearish sequence from 4.17.2024 high. Down from there, wave 1 ended at 104.08 like the 1 hour chart below shows. Rally in wave 2 unfolded in a double three Elliott Wave structure. Up from wave 1, wave (w) ended at 104.79 and dips in wave (x) ended at 104.39. Wave (y) higher ended at 105.12 which completed wave ((w)) in higher degree. Pullback in wave ((x)) ended at 104.33 and rally in wave ((y)) ended at 105.18 which completed wave 2 in higher degree.

The Index has turned lower in wave 3. Down from wave 2, wave (i) ended at 104.63 and wave (ii) rally ended at 104.89. The Index then nested lower with wave i of (iii) ended at 104.36. Wave ii of (iii) ended at 104.76. The Index extended lower in wave iii towards 104.14 and wave iv ended at 104.25. Wave v lower ended at 103.99 which completed wave (iii). Near term, as far as pivot at 105.18 high stays intact, expect short term rally to fail in 3, 7, or 11 swing for further downside.

Dollar Index (DXY) 60 Minutes Elliott Wave Chart​

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Source: https://elliottwave-forecast.com/ne...ve-sequence-dollar-index-dxy-favors-downside/

 

[Elliottwave-Forecast]

Eli Lilly & Company (LLY) discovers, develops & markets human pharmaceuticals worldwide. It is based in Indianapolis, Indiana, US, comes under Healthcare sector & trades as “LLY” ticket at NYSE.

As showing in the previous article from 4.08.2024, LLY expect short term upside towards $869.49 or higher levels to finish (3) of ((3)) in impulse sequence. It favors upside in 5 of (3), while placed 4 at $718.30 low.

LLY - Elliott Wave Latest Weekly View: ​

In Weekly sequence, it finished II of (III) at $101.36 low in October-2019. It favors higher in third wave extension as (3) of ((3)) of III towards $869.49 or higher levels. It placed ((1)) at $375.25 high in December-2022 & ((2)) at $309.20 low in March-2023. Within ((1)), it finished (1) at $170.75 as diagonal structure & (2) at $129.21 low as 0.618 Fibonacci retracement. It placed (3) at $335.33 high, (4) at $296.32 low & (5) at $375.25 high.

LLY - Elliott Wave Weekly View From 4.08.2024: ​

Above ((2)) low, it placed (2) of ((3)) at $547.61 low & 4 of (3) at $718.30 low, favoring upside in 5 of (3) as it broke above 3 high. It expects short term upside in 5 towards $820 - $869.5 area to finish (3) of ((3)) before it should pullback in (4). We like to buy the pullback in 3, 7 or 11 swings correction at extreme areas, while dips remain above rising price trendline.

Source: https://elliottwave-forecast.com/stock-market/lly-should-find-support-in-pullbacks/

 

[Elliottwave-Forecast]

In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of GBPAUD. In which, the rally from the 09 May 2024 low unfolded in a corrective sequence but provided an extreme trading opportunity. In this case, the pullback managed to reach the equal legs area & provided a buying opportunity. So, we advised members not to sell it but to buy the equal legs area for a minimum reaction higher to happen. We will explain the structure & forecast below:

GBPAUD 1-Hour Elliott Wave Chart From 6.03.2024​

Here’s the 1-hour Elliott wave Chart from the 6.03.2024 NY update. In which, rally to 1.9249 high ended the wave ((w)) & made a pullback in wave ((x)). The internals of that pullback unfolded as Elliott wave zigzag structure where wave (a) ended at 1.9123 low. A bounce to 1.9245 high ended wave (b) bounce. Then the pair started the next leg lower in wave (c) towards 1.9118- 1.9040 equal legs area. From there, buyers were expected to appear looking for new highs ideally or for a 3-wave bounce minimum.

GBPAUD Latest 1-Hour Elliott Wave Chart From 6.04.2024​

Above is the Elliott wave Chart from the 6.04.2024 NY update. The GBPAUD is showing a reaction higher taking place from the equal legs area. Right after ending the zigzag correction. Allowed members to create a risk-free position shortly after taking a long position. However, a break above 1.9249 high is yet to be seen to confirm the next extension higher & avoid a double correction lower.

Source: https://elliottwave-forecast.com/forex/gbpaud-reacting-higher-extreme-area/

 

[Elliottwave-Forecast]

Hello Traders! Today, we will look at the 4H Elliott Wave structure of iShares 20+ Year Bond ETF ($TLT) and explain why the ETF should see more upside after pulling back in a Zig-Zag correction and reaching the Blue Box area.

5 Wave Impulse Structure + ABC correction​

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$TLT 4H Elliott Wave View – June 04, 2024:​

The 4H chart above shows the cycle from Oct 2023 low unfold as a 5 waves impulse suggesting a bullish sequence. Firstly, the rally peaked on Dec 2023 and started a Zig-Zag correction. Secondly, the pullback managed to reach the blue box area at $91.16 - 86.52. As a result, buyers entered and pushed price higher again in an impulse. Consequently, ending the correction on 4/25/2024. In conclusion, the ETF is favored to pullback soon to correct the cycle from 5/29/2024 low before continuing higher towards $106 - 110 area.

Source: https://elliottwave-forecast.com/vi...ish-structure-calling-upside-since-july-2023/

 

[Elliottwave-Forecast]

Short Term Elliott Wave in Oil (CL_F) shows incomplete Elliott Wave bearish sequence from 04.12.2024 high. Down from there, wave 1 ended at 76.15 like the 1 hour chart below shows. Rally in wave 2 unfolded in a zig zag Elliott Wave structure. Up from wave 1, wave ((a)) ended at 78.05 and dips in wave ((b)) ended at 77.68. Wave ((c)) higher ended at 80.63 which completed wave 2 in higher degree.

US Oil has resumed lower in wave 3. Down from wave 2, wave ((i)) ended at 76.39 and wave ((ii)) rally ended at 77.52. The CL_F then nested lower with wave (i) of ((iii)) ended at 76.62. Wave (ii) of ((iii)) ended at 77.34. The commodity extended lower in wave (iii) towards 72.48 and wave (iv) ended at 73.69. Wave (v) lower is still developing. As market stays below 73.69 high, we are calling for one more low to wave (v) of ((iii)) and wave ((iii)) in higher degree. Once wave ((iii)) ended, expect near term rally to fail in 3, 7, or 11 swing as wave ((iv)) for further downside.

CL_F 60 Minutes Elliott Wave Chart​

Source: https://elliottwave-forecast.com/commodities/elliott-wave-analysis-cl_f/

 

[Elliottwave-Forecast]

Hello traders. Welcome to a new commodity blog post. In this one, we will look at the Copper Elliott wave analysis from our team of analysts. We will especially look at an Elliottwave path discussed in of one of our updates shared with members of ElliottWave-Forecast in May 2024. In conclusion, we will discuss how we will look for the next trade setup on this commodity. Aside from Copper, members get regular Elliott wave updates - five times a day, on 77 other instruments.

In the long term, Copper shows an impulse wave bullish sequence. The intermediate degree impulse wave structure, i.e., (1)-(2)-(3)-(4)-(5), started in October 2023. The price advanced from 3.518 in October 2023 to 5.199 in May 2024. At that high, we recognized that wave (3) of the impulse had been completed. We started analyzing the price action that followed. Our focus was more on the shorter cycles on the H1 and 30-minute charts as we could identify a bearish path in the direction of wave (4) pullback on the higher time frame. On May 23, at 4.7435, we identified wave W of (4). Over a month later, wave X was evolving into a zigzag structure, and we shared the chart below.

Copper Elliott Wave Analysis - $HG_F, 05.28.2024​

On May 28, 2024, we shared the chart above with members identifying the extreme zone where wave X should be resisted. The short-term sellers are expected to gain control and drive prices lower for wave Y of (4). From the next day, wave X found resistance as we expected, and the sell-off resumed.

Copper Elliott Wave Analysis - $HG_F, 05.30.2024​

We shared the chart above with members two days later. The essence was to emphasize that wave (4) has not yet concluded for buyers to re-enter. We reckoned that the wave ((a)) of Y of (4) could be around the completion stage, paving the way for another bounce for ((b)). In that case, shorter cycles support further decline until wave Y of (4) has concluded. We already have an extreme zone in sight where we expect wave (4) to complete and attract buyers for wave (5). When wave (5) begins, shorter cycles will support buying the pullbacks in 3, 7, or 11 swings.

Source: https://elliottwave-forecast.com/commodities/copper-elliott-wave-analysis-expects-further-decline/

 

[Elliottwave-Forecast]

RON is the native cryptocurrency of Ronin which is an EVM blockchain crafted for developers building games with player-owned economies. In today’s article, we’ll dive into the daily Elliott Wave structure taking place and we'll explore the potential path based on the Theory.

Since November 2022, $RON traded higher within an impulsive 5 waves advance. From $0.196 low to a peak of $4.56, an impressive 2052% move just within 15 months. The recent March 2024 peak is proposed to be a wave ((1)) and it was followed by a 46% decline in wave ((2)). The downside correction unfolded within a Zigzag structure (A)(B)(C) and $RON did reach the buying blue box area around equal legs at $2.93 – $1.99.

The blue box showing in our chart is a technical area where we expect the correction to end then the start of the next leg to the upside in a proposed wave ((3)). The Initial reaction from the lows is expected to be wave (1) of ((3)), consequently $RON is expected to remain supported above May low $2.42 and it will be looking to resume the daily rally looking for new highs within an initial target area at $6.7 - $9.4.

Ronin $RON Daily Chart 6.4.2024​

Setup Recap

-Time Frame : Daily
-Entry Area : $2.93 – $2.57
-Invalidation Condition : Daily Close below $1.99
-Targets / Ratio : Target 1 at $6.77 (3.9 RR) – Target 2 at $9.46 (6.66 RR)
Source: https://elliottwave-forecast.com/cryptos/ronin-ron-upside/

 

[Elliottwave-Forecast]

McDonald's (MCD) is the world's largest fast food restaurant chain, serving over 69 million customers daily in over 100 countries in more than 40,000 outlets as of 2021. It is best known for its hamburgers, cheeseburgers and french fries, although their menu also includes other items like chicken, fish, fruit, and salads.

McDonald's MCD Weekly Chart January 2024​

In March 2020, MCD ended a corrective cycle as wave ((II)) at 124.23 low and continued the rally. The new structure could be building a leading diagonal as wave (I); therefore, we called wave I completed at 271.15 high and pulback as wave II ended at 217.68 low. The market resumed to the upside in a choppy way finished wave III at 299.35 high. Next correction as wave IV ended a zig zag structure at 245.73 low and MCD rally again. Last January, we called that wave V of (I) should end soon and see a pullback in wave (II).

McDonald's MCD Weekly Chart June 2024​

After 5 months, wave V of (I) ended almost inmmedialy at 302.39 high and started wave (II) correction. We believe that wave "a" of (II) has not ended yet. We can see 5 waves down from wave (I) high, but the last swings still could see one more low to end wave "a". This low could drop to 245.79 - 240.41 area (1.236 - 1.618 inverse Fib retracement) where buyers should appear to see 3 or 7 swings bounce in wave "b" before resuming lower in wave "c" of (II).

Source: https://elliottwave-forecast.com/stock-market/mcd-retracement/

 

[Elliottwave-Forecast]

This technical blog will look at the past performance of the 1-hour Elliott Wave Charts of BAC. We presented to members at the elliottwave-forecast. The rally from 30 May 2024 low unfolded as an impulse structure. Showing a higher high sequence in a higher time frame favored more upside extension. Therefore, we advised members not to sell the stock & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:

BAC 1-Hour Elliott Wave Chart From 6.06.2024​

Here’s the 1-hour Elliott wave chart from the 6/06/2024 Midday update. In which, the short-term cycle from the 5/30/2024 low ended in wave 1 at $40.21 high. Down from there, the stock made a pullback in wave 2 to correct that cycle. The internals of that pullback unfolded as Elliott wave zigzag structure where wave ((a)) ended at $39.36 low. Wave ((b)) bounce ended at $40.14 high and wave ((c)) managed to reach the blue box area at $39.28- $38.75. From there, buyers were expected to appear looking for the next leg higher or for a 3 wave bounce minimum.

BAC Latest 1-Hour Elliott Wave Chart From 6.10.2024​

This is the latest 1-hour Elliott wave Chart from the 6/10/2024 Pre-Market update. In which the stock is showing a reaction higher taking place, right after ending the double three correction within the blue box area. Allowed members to create a risk-free position shortly after taking the long position at the blue box area. However, a break above $40.21 high is yet to be seen to confirm the next extension higher & avoid deeper correction. Also, it’s important to note that with further data the pullback was adjusted to double three correction.

Source: https://elliottwave-forecast.com/stock-market/bac-keeps-reacting-higher-blue-box-area/

 

[Elliottwave-Forecast]

Hello everyone. In today’s article, we will look at the past performance of the 1H Hour Elliott Wave chart of SPDR Energy ETF ($XLE). The decline from 5.31.2024 high at $93.45 unfolded as 5 waves impulse. So, we expected the bounce to unfold in 3 swings and find sellers again. We will explain the structure & forecast below:

5 Wave Impulse Structure + ABC correction​

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$XLE 1H Elliott Wave Chart 6.06.2024:​

Here is the 1H Elliott Wave count from 6.06.2024. We expected the bounce to find sellers at the blue box area at 90.67 – 91.56 in 3 swings.

$XLE 1H Elliott Wave Chart 6.09.2024:​

Here is the latest 1H update from 6.09.2024 showing the reaction taking place as expected. The ETF has reacted lower from the blue box area allowing shorts to get risk free. The ETF is expected to continue lower towards $87 – 83 area. Alternatively, the bounce can become a double three correction (WXY) and reach 92 - 93 area before lower.
Source: https://elliottwave-forecast.com/st...etf-xle-found-sellers-blue-box-area-expected/

 

[Elliottwave-Forecast]

Crocs Inc., (CROX) designs, manufactures, markets & distributes casual lifestyle footwear & accessories for men, women & children worldwide. The company sells its products in approximately 85 countries through wholesalers, retail stores, e-commerce sites & third-party marketplaces. It is based in Colorado, US, comes under Consumer Cyclical sector & trades as “CROX” ticker at Nasdaq.

As showing in the previous article, CROX favors upside in (3) of ((1)) & remain supported within the sequence started from November-2023 low. It favors upside in 5 of (3), while dips remain above 143.28 low.

CROX - Elliott Wave Latest Daily View: ​

It placed (I) at $183.88 high in weekly since 2008 low as impulse sequence. It corrected lower in (II) as zigzag down ended at $46.08 low as 0.764 Fibonacci retracement of (I) in June-2022. Above there, it ended I of (III) at $151.32 high. Within I sequence, it placed ((1)) at $83.64 high, ((2)) at $65.17 low, ((3)) at $143.50 high, ((4)) at $109.47 low & finally ended ((5)) at $151.32 high. It corrected lower in II at $74.00 low as around 0.764 Fibonacci retracement of I.

CROX - Elliott Wave Latest Weekly View: ​

Above II low, it placed (2) of ((1)) at $85.71 low & favors upside in (3) of ((1)). It already broke above I high, favoring upside to extend towards $179.29 or higher level. Yet, it needs to break above (I) high to confirm the weekly bullish sequence. Within (3), it placed 1 at $106.83 high, 2 at $94.50 low, 3 at $146.79 low & 4 at $118.60 low. Above there, it favors upside in 5 of (3) & expect further upside, while dips remain above $143.28 low of ((ii)). Alternatively, below $143.28 low, it should be within (4) correction, while placed (3) at $158.11 high. In either the case, we like to buy the pullback in 3, 7 or 11 swings towards short term extreme areas for the next move higher.

Source: https://elliottwave-forecast.com/stock-market/crocs-inc-continue-upside/

 

[Elliottwave-Forecast]

Pan American Silver is a Canadian mining company that owns and operates mines in Mexico, Peru, Bolivia, and Argentina. As one of the world's premier silver producers, they focus on silver and gold mining throughout the Americas. Their vision emphasizes excellence in discovery, engineering, innovation, and sustainable development. Below we update the Elliott Wave outlook of the company.

PAAS Monthly Elliott Wave Chart​

Monthly Elliott Wave chart of Pan American Silver (PAAS) above shows the stock ended wave ((II)) pullback at 5.32 on January 2016 low. The stock then started to rally in wave ((III)) as an impulse. Up from wave ((II)), wave (I) ended at 40.11. Pullback in wave (II) has also completed at 12.18. The stock has since rallied higher again as an impulse. While pullback stays above 5.32, expect the stock to extend higher.

PAAS Daily Elliott Wave Chart​

Daily Elliott Wave Chart of Pan American Silver (PAAS) above shows the rally from wave (II) low at 12.18 unfolded as an impulsive structure. Up from wave (II), wave ((1))) ended at 13.28 and wave ((2)) pullback ended at 12.19. The stock then extended higher with separation wave ((3)) which ended at 20.6. Pullback in wave ((4)) has ended at 18.01 and the stock resumed higher in wave ((5)) towards 22.75 which completed wave I in higher degree. Pullback in wave II is currently in progress to correct cycle from 2.13.2024 low in 3, 7, or 11 swing before it resumes higher. Near term, as far as pivot at 12.18 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.

Source: https://elliottwave-forecast.com/commodities/pan-american-silver-paas-pullback-progress-2/

 

[Elliottwave-Forecast]

Short Term Elliott Wave in S&P 500 (SPX) suggests the rally from 4.20.2024 low is in progress as an impulse. Up from 4.20.2024 low, wave 1 ended at 5341.88 and pullback in wave 2 ended at 5191.68. Internal subdivision of wave 2 unfolded as a double three Elliott Wave structure. Down from wave 1, wave ((w)) ended at 5256.93 and wave ((x)) ended at 5311.65. The Index then extended lower in wave ((y)) as a zigzag structure. Wave (a) ended at 5269.67, wave (b) ended at 5282.06 and wave (c) ended at 5191.74. This completed wave ((y)) of 2 in higher degree.

The Index has turned higher in wave 3. Up from wave 2, wave (i) ended at 5292.25 and dips in wave (ii) ended at 5234.32. The Index resumed higher in wave (iii) towards 5370.3 and pullback in wave (iv) ended at 5347.09. Wave (v) higher ended at 5375.08 which completed wave ((i)). Pullback in wave ((ii)) is proposed complete as a shallow zigzag Elliott Wave structure. Down from wave ((i)), wave (a) ended at 5341.88 and wave (b) ended at 5360.79. Wave (c) lower ended at 5340.51 which completed wave ((ii)). The Index has turned higher in wave ((iii)). Near term, as far as pivot at 5191.74 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.

S&P 500 (SPX) 30 Minutes Elliott Wave Chart​

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Source: https://elliottwave-forecast.com/ne...analysis-sp-500-spx-sequence-remains-bullish/

 

[Elliottwave-Forecast]

Short Term Elliott Wave in META suggests the stock rallies in impulsive structure from 4.25.2024 low. Up from there, wave (1) ended at 482.5 and pullback in wave (2) ended at 454.46. The stock has resumed higher in wave (3) with internal subdivision as an impulse Elliott Wave structure in lesser degree. Up from wave (2), wave ((i)) ended at 460.23 and pullback in wave ((ii)) ended at 458.3. The stock resumed higher in wave ((iii)) towards 496.65 and pullback in wave ((iv)) ended at 491.92. Final leg wave ((v)) ended at 502.82 which completed wave 1.

Pullback in wave 2 unfolded as a zigzag structure. Down from wave 1, wave ((a)) ended at 490.89 and wave ((b)) ended at 496. Wave ((c)) lower ended at 490.19 which completed wave 2 in higher degree. The stock has resumed higher in wave 3. Up from wave 2, wave (i) ended at 505.33 and wave (ii) ended at 498.67. Rally in wave (iii) ended at 509, and dips in wave (iv) ended at 507.3. Final wave (v) ended at 516.88 which completed wave ((i)) in higher degree. Wave ((ii)) pullback is in progress to correct cycle from 6.7.2024 low before it resumes higher. Near term, as far as pivot at 490.19 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.

META 45 Minutes Elliott Wave Chart​

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Source: https://elliottwave-forecast.com/news/elliott-wave-expects-meta-extend-impulsive-rally/