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General Electric Co. ($GE) Reacted Higher After a Corrective Pull Back.
Hello everyone. In today’s article, we will look at the past performance of the 8 Hour Elliott Wave chart of General Electric Co. ($GE). The rally from 12.16.2022 low unfolded as a 5 wave impulse. So, we expected the pullback to unfold in 7 swings and find buyers again. We will explain the structure & forecast below:
https://elliottwave-forecast.com/sto...ive-pull-back/

Johnson & Johnson (JNJ) Resumed the Bearish Cycle
Johnson & Johnson (JNJ) is an American multinational corporation founded in 1886 that develops medical devices, pharmaceuticals, and consumer packaged goods. Its common stock is a component of the Dow Jones Industrial Average, and the company is ranked No. 36 on the 2021 Fortune 500 list of the largest United States corporations by total revenue.
https://elliottwave-forecast.com/sto...bearish-cycle/

Bank of Montreal (BMO) Continues Weakness In Correction
Bank of Montreal (BMO) provides diversified financial services primarily in North America. The company’s personal banking products & services include checking & savings accounts, credit cards, mortgages, financial & investment advice services & commercial banking products & services. It is based in Montreal, Canada, comes under Financial services sector & trades as “BMO” at NYSE.
As shown from previous article published on 4.09.2023, BMO favored lower in ((Y)) of II below $102.79 high. It reacted lower & confirms lower low below ((W)) favoring short term weakness in ((Y)) of II.
https://elliottwave-forecast.com/sto...ss-correction/

Light Crude Oil (CL) Shows 5 Swing Sequence Favoring More Upside

Short Term Elliott Wave in Light Crude Oil (CL) suggests the decline from 9.28.2023 high ended wave (W) at 81.53. Internal subdivision of (W) unfolded in a double three Elliott Wave structure. Down from 9.28.2023 high, wave ((a)) ended at 90.35 and wave ((b)) ended at 91.88. Wave ((c)) lower ended at 87.76 which completed wave W. Rally in wave X ended at 90.27. Oil then resumed lower in wave Y with internal subdivision as a zigzag. Down from wave X, wave ((a)) ended at 84.16 and wave ((b)) ended at 84.92. Final leg wave ((c)) ended at 81.50 which completed wave Y of (W).

Wave (Y) rally is now in progress as a zigzag Elliott Wave structure. Up from wave (W), wave ((i)) ended at 87.24 and wave ((ii)) dips ended at 82.31. Internal subdivision of wave ((ii)) unfolded in zigzag structure. Down from wave ((i)), wave (a) ended at 82.78 and wave (b) ended at 85.2. Wave (c) lower ended at 82.31 which completed wave ((ii)) in higher degree. The instrument then extended higher in wave ((iii)) towards 88.33 and pullback in wave ((iv)) ended at 85.60. Expect wave ((v)) to end soon which should complete wave A. Afterwards, Oil should pullback in wave B to correct cycle from 10.6.2023 low before it resumes higher. Near term, as far as pivot at 81.53 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.

Light Crude Oil (CL) 60 Minutes Elliott Wave Chart

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CL Elliott Wave Video


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Dow Futures (YM) Pullback May Find Support

Short Term Elliott Wave in Dow Futures (YM) suggests the decline from 7.27.2023 high has ended with wave (W) at 33014. The Index is now correcting that cycle in wave (X) with internal subdivision as a double three Elliott Wave structure. Up from wave (W), wave (i) ended at 33410 and pullback in wave (ii) ended at 33032. Index then resumed higher again in wave (iii). Up from wave (ii), wave i ended at 33756 and wave ii dips ended at 33298. Index resumes higher again in wave iii towards 34092 and pullback in wave iv ended at 33799. Final leg higher wave v ended at 34153 which completed wave (iii). Pullback in wave (iv) ended at 33617.

Index resumed higher in wave (v) as a diagonal. Up from wave (iv), wave i ended at 34123 and wave ii ended at 33707. Wave iii higher ended at 34254 and pullback in wave iv ended at 33966. Final leg wave v ended at 34305 which completed wave (v) of ((a)). Index is now doing a wave ((b)) pullback to correct the cycle from 10.4.2023 low in 3, 7, or 11 swing. Down from wave ((a)), wave (w) ended at 33738. Expect rally in wave (x) to fail in 3, 7, or 11 swing for another leg lower in wave (y) to complete wave ((b)). Near term, as far as pivot at 33014 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.

Dow Futures ($YM_F) 45 Minutes Elliott Wave Chart

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$YM_F Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...-find-support/
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ES_F (E-mini S&P) Reaction from Equal Legs Area
In this article, we’re going to take a quick look at the Elliott Wave charts of ES_F (E-mini S&P 500) published in the members area of the website. As our members know, E-mini S&P500 is trading within the cycle from the October 13, 2022 low (3502). The rally so far is in 3 waves but has scope to become 5 waves as far as the price stays above the recent low of October 4, 2023. Recently we got 3 waves pull back which found buyers right at equal legs area as we expected. In the further text, we are going to show how all this unfolded and the reaction higher which took place from the equal legs area.
ES_F 2 October 2023, 4 Hour Elliott Wave Update
ES_F made a pullback in 3 waves and reached the extreme zone- equal legs area starting from 4282.22. ES_F has already reached the extreme area and 3 waves pull back could be counted completed but the chart below favors the idea of another leg lower within the equal legs area as wave ((v)) of C before a reaction higher takes place. This should allow the rest of the Indices to reach their respective extreme areas. After another low, ES_F should ideally find buyers for further rally in wave (5) blue or for a 3 waves bounce at least.
https://elliottwave-forecast.com/vid...ual-legs-area/

$LMT : Pullbacks in Lockheed Martin Remain Supported
Lockheed Martin is one of the the largest defense, arms and aerospace companies based in the United States and the world. It employs approximately 110’000 people worldwide. The company operates mainly on four business segments, i.e., Aeronautics, Missiles & Fire control, Rotary & Mission system and Space systems. It’s the world’s largest defense contractor based on revenues in the fiscal year of 2014. Headquartered in Bethesda, Maryland, USA, Lockheed Martin is a part of S&P100 and S&P500 indices. One can trade it under the ticker $LMT at NYSE.
In the article back in March 2019, we have presented the impulsive structure of $LMT. Our anticipation was an extension towards 391-437 area. Then, a pullback in wave ((IV)) before higher again. We were right. Later, in article from November 2021, we expected the pullback to find support from 299-266 area. It has ended with truncation and $LMT broke to new all-time highs. Now, we present an updated view, discuss wave structure and next buying opportunities..
Lockheed Martin Monthly Elliott Wave Analysis 10.18.2023
The monthly chart below shows the Lockheed Martin stock $LMT traded at NYSE. From the all-time lows, the stock price has developed cycles higher in black waves ((I))-((II)-((III)) of grand super cycle degree towards the peak on February 2020 at 442.53. Hereby, the wave ((III)) shows an extension beyond 2.618 as related to the wave ((I)) (not shown). Moreover, wave ((III)) shows an extended subwave (III) on its own. From the February 2020 highs, a correction lower in black wave ((IV)) has found its bottom in March 2020 at 266.11 low. From there, a new cycle within wave ((V)) is in progress. It has been confirmed by breaking to new all-time highs. The target for wave ((V)) will be 484-551 area. The minimum level has been reached. Therefore, one should not be too agressive. But still, there are no signs of the market’s top. Pullbacks in $LMT should remain supported.
https://elliottwave-forecast.com/sto...ins-supported/

NZDUSD Looking to End 5 Waves Move

Short Term Elliott Wave in NZDUSD shows pair is unfolding as a 5 waves move lower from 2.2.2023 high. Down from 2.2.2023 high, wave 1 ended at 0.6084 and rally in wave 2 ended at 0.6411. Pair resumed lower in wave 3 towards 0.58594. Bounce in wave 4 ended at 0.6054 as the 1 hour chart below. Pair has resumed lower in wave 5. Internal subdivision of wave 5 is unfolding as a 5 waves impulse. Down from wave 4, wave ((i)) ended at 0.60 and rally in wave ((ii)) ended at 0.6033.

Pair resumed lower in wave ((iii)). Down from wave ((ii)), wave (i) ended at 0.6 and rally in wave (ii) ended at 0.6025. Wave (iii) lower ended at 0.5897 and rally in wave (iv) ended at 0.5921. Final leg lower wave (v) ended at 0.5879 which completed wave ((iii)). Pair then rallied in wave ((iv)) and ended at 0.5929. Pair has resumed lower in wave ((v)). Down from wave ((iv)), wave (i) ended at 0.587 and rally in wave (ii) ended at 0.5919. Wave (iii) lower ended at 0.5814 and rally in wave (iv) ended at 0.5866.

Expect wave (v) to end with 1 more push lower which should complete wave ((v)) of 5 of (1). Afterwards, pair should rally in larger degree wave (2) to correct cycle from 2.2.2023 high. Near term, as far as pivot at 0.6954 stays intact, expect pair to extend lower before ending cycle from 2.2.2023 high.

NZDUSD 60 Minutes Elliott Wave Chart

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NZDUSD Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...-5-waves-move/
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IONQ Favors Further Weakness In Zigzag Correction
IONQ Inc., (IONQ) engages in the development of general-purpose quantum computing systems in the US. It sells the access to quantum computers of various qubit capacities. The company makes access to its quantum computers through cloud platforms, such as Amazon web services, Amazon Braket, Microsoft’s Azure Quantum & Google’s cloud marketplace. It is based in Maryland, comes under Technology sector & trades as “IONQ” ticker.
As showing from previous article, IONQ favors pullback in II lower as zigzag correction. It expects ((C)) to extend lower, while bounce fail below ((B)) high of $16.60 as it broke below ((A)) low of $12.96.
https://elliottwave-forecast.com/sto...ag-correction/

Gold Miners Junior (GDXJ) Should At least See 3 Waves Rally
The VanEck Vectors Junior Gold Miners ETF (GDXJ) is an exchange-traded fund that provides exposure to the stocks of small to mid-sized companies involved in the exploration and production of gold and other precious metals. The ETF looks to have ended expanded flat correction and now it should see at least 3 waves rally if not a new bullish cycle. Below we will take a look at the Elliott Wave outlook for the ETF.
https://elliottwave-forecast.com/sto...3-waves-rally/

Cisco (CSCO) Should Make One More High Before a Big Correction
Cisco Systems, Inc., commonly known as Cisco (CSCO), is an American-based multinational digital communications technology conglomerate corporation headquartered in San Jose, California. Cisco develops, manufactures, and sells networking hardware, software, telecommunications equipment and other high-technology services and products.
At the end of 2021, Cisco finished an impulsive structure at 64.33 which we called wave (I). Then, CSCO dropped nearly a year to complete a zig zag corrective structure at $38.73 as wave (II). Since October 2022 low, we are looking for one more high above $58.19 to finish an impulse structure where we should see a big correction.
https://elliottwave-forecast.com/sto...ig-correction/

EURJPY Extends Higher in Bullish Cycle


EURJPY extends higher and the pair has broken above the previous high on 8.30.2023 at 159.76 suggesting the next leg higher has started. Cycle from 10.3.2023 low is currently in progress as an impulse structure. Up from 10.3.2023 low, wave (i) ended at 158.26. Pullback in wave (ii) ended at 156.5 and wave (iii) rally ended at 158.44. Dips in wave (iv) ended at 157.98 and pair ended wave (v) higher at 158.61 which also completed wave ((i)). Pullback in wave ((ii)) ended at 156.88 with internal subdivision as a zigzag structure.

Down from wave ((i)), wave (a) ended at 157.589 and wave (b) rally ended at 158.04. Pair then extended lower in wave (c) towards 156.9 which completed wave ((ii)). Pair then resumed higher in wave ((iii)). Up from wave ((ii)), wave i ended at 158.99 and pullback in wave ii ended at 158.49. Expect pair to extend higher in wave iii, followed by pullback in wave iv, and higher again in wave v. This should complete wave (i) of ((iii)). Pair should then pullback in wave (ii) of ((iii)) to correct cycle from 10.16.2023 low before it resumes higher again. Near term, while pivot at 156.9 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.

EURJPY 60 Minutes Elliott Wave Chart

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EURJPY Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...bullish-cycle/
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Alphabet Inc. ($GOOGL) Reacting Higher From Blue Box Area
Hello everyone. In today’s article, we will look at the past performance of the 1 Hour Elliott Wave chart of Alphabet Inc. ($GOOGL). The rally from 9.26.2022 low unfolded as a 5 wave impulse. So, we expected the pullback to unfold in 7 swings and find buyers again at the blue box area. We will explain the structure & forecast below:
https://elliottwave-forecast.com/sto...blue-box-area/

Bitcoin (BTCUSD) Looking to Extend Higher as Impulse

Short Term view of Bitcoin (BTCUSD) suggests that cycle from 9.11.2023 low is in progress as an impulse Elliott Wave structure. Up from 9.11.2023 low, wave 1 ended at 27493.1 and pullback in wave 2 ended at 25994.2. The crypto currency then extended higher again in wave 3. Up from wave 2, wave ((i)) at 28582.4 and pullback in wave ((ii)) ended at 26526.78 as the 90 minutes chart below shows. The crypto-currency has extended higher in wave ((iii)).

Up from wave ((ii)), wave i ended at 27113.3 and dips in wave ii ended at 26825.8. Bitcoin then extended higher in wave iii towards 27972.8 and dips in wave iv ended at 27680.1. Final leg wave v ended at 39377,3 which completed wave (i). Pullback in wave (ii) ended at 28042.70. Bitcoin then extended higher again in wave (iii). Up from wave (ii), wave i ended at 30335.7 and wave ii ended at 29669.50. Wave iii higher ended at 35150 and pullback in wave iv ended at 32671.30. Final leg wave v ended at 35152 which completed wave (iii). Pullback in wave (iv) ended at 33250. Near term, expect Bitcoin to extend 1 more leg to end wave (v) of ((iii)), then it should pullback in wave ((iv)) and turns higher again. Near term, as far as pivot at 26526.78 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.

Bitcoin(BTCUSD) 90 Minutes Elliott Wave Chart

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BTCUSD Elliott Wave Video


Source: https://elliottwave-forecast.com/new...igher-impulse/
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S&P 500 (SPX) Looking to End Diagonal

Short term Elliott Wave View in S&P 500 (SPX) suggests that cycle from 7.28.2023 high is in progress as a diagonal structure. Down from 7.28.2023 high, wave 1 ended at 4344.75 and rally in wave 2 ended at 4532.26. Index resumes lower in wave 3 towards 4216.45 as the 45 minutes chart below shows. Wave 4 ended at 4393.04 with internal subdivision as a zigzag structure. Up from wave 3, wave ((a)) ended at 4385.85 and pullback in wave ((b)) ended at 4311.97. The Index then extended higher in wave ((c)) towards 4393.04 which completed wave 4.

S&P 500 (SPX) has resumed lower in wave 5. Down from wave 4, wave ((i)) ended at 4329.7 and rally in wave ((ii)) ended at 4346.92. Index is nesting lower with wave (i) of ((iii)) ended at 4290 and wave (ii) ended at 4339.54. The Index continued lower in wave (iii) towards 4230.99 and wave (iv) ended at 4258.67. Final leg wave (v) ended at 4212.5 which completed wave ((iii)). Rally in wave ((iv)) ended at 4259.38. Wave ((v)) is now in progress to end wave 5 of (A) in higher degree. Near term, as far as pivot at 4393.04 stays intact, expect the Index to continue lower.

S&P 500 (SPX) 45 Minutes Elliott Wave Chart

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SPX Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...-end-diagonal/
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A Closer Look at PepsiCo’s (PEP) Daily Correction

PepsiCo (NASDAQ: PEP), has been facing a challenging environment in the recent 2 years. With the continued uncertainty and volatility in the market, the stock’s long-term growth potential is under scrutiny by investors. In this article, we’ll analyze the various Elliott Wave patterns for PepsiCo in order to guide investors in navigating the mid-term movement of the stock.
PepsiCo surged into new all time highs on May 2023 but it didn’t last long. Since then PEP faced a 20% decline which ended the impulsive cycle started in March 2020.
Based on the current structure we can define 2 potential emerging type of correction taking place.
The initial aggressive approach would suggest a potential 5 waves decline in wave ‘a’ of larger ZigZag ‘abc’ structure. Currently a short term bounce in wave ((4)) would ideally fail around $167 – $170 area followed by a wave ((5)) lower into equal legs area $158 – $152. Up from there, a larger 3 waves bounce will happen in wave ‘b’ before another 5 waves decline in wave ‘c’ to take place.
https://elliottwave-forecast.com/sto...ep-correction/

Russell 2000 (RTY) Soon Will Open Bearish Sequence

Russell 2000 (RTY) is close to breaking below 6.16.2022 low at 1640.70. A break below that level will open a bearish sequence from 11.8.2021 peak favoring further downside. Short term Elliott Wave View suggests that cycle from 8.1.2023 high is in progress as an impulse Elliott Wave structure. Down from 8.1.2023 high, wave 1 ended at 1832.8 and rally in wave 2 ended at 1934. The Index extended lower in wave 3 towards 1720.7 and rally in wave 4 ended at 1802.70. Wave 5 lower is currently in progress which should complete wave (1) in higher degree. Down from wave 4, wave ((i)) ended at 1724.30 and wave ((ii)) ended at 1792.90. The 45 minutes chart below shows the starting point of wave ((ii)) of 5.

The Index then extended lower in wave ((iii)). Down from wave ((ii)), wave (i) ended at 1772.9 and wave (ii) ended at 1779.3. The Index extended lower in wave (iii) towards 1693.80 and rally in wave (iv) ended at 1709.70. Wave (v) lower ended at 1670.90 which completed wave ((iii)). Rally in wave ((iv)) ended at 1701.82 with internal subdivision as a zigzag. Up from wave ((iii)), wave (a) ended at 1699.70 and pullback in wave (b) ended at 1675.30. Index then extended higher in wave (c) towards 1701.82 which completed wave ((iv)). Index then resumes lower in wave ((v)). While below 1701.82, expect the Index to extend a bit lower to end wave ((v)) of C of (1). Afterwards, Index should rally in wave (2) to correct cycle from 8.1.12023 high before the decline resumes.

Russell 2000 (RTY) 45 Minutes Elliott Wave Chart

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RTY Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...rish-sequence/
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JPMorgan (JPM) Shares Could Have Started A Collapse
JPMorgan Chase & Co. (JPM) is an American multinational investment bank and financial services holding company headquartered in New York City and incorporated in Delaware. As of December 31, 2021, JPMorgan Chase is the largest bank in the United States, the world’s largest bank by market capitalization, and the fifth-largest bank in the world in terms of total assets, with total assets totaling to US$3.831 trillion.
https://elliottwave-forecast.com/sto...ould-collapse/

TSLA Minimum 3 Wave Bounce Is Expected To Happen
The Short-term Elliott wave view in the Tesla stock ticker symbol: TSLA is doing a pullback from the 19 July 2023 peak to correct the cycle from the 06 January 2023 low. The pullback from the peak is unfolding as Elliott wave double three structure where wave (W) ended in 3 swings at $212.36 low. Up from there, the stock made a 3-wave bounce higher in wave (X) towards 278.98 high. Down from there, the stock is expected to extend lower in wave (Y). Looking to reach the extreme from the peak towards the $191.90- $138.11 area. Before a bounce in a minimum of 3 waves is expected to happen.
While the internals of (Y) leg lower is taking the form of a lesser degree zigzag correction where wave A ended at $234.58 low. From there, wave B bounce ended at $268.94 high and now wave C remains in progress in an impulse sequence. Below from there, wave ((i)) ended in a lesser degree 5 waves at a $247.50 low. Then a bounce to $257.18 high ended wave ((ii)). Wave ((iii)) ended at $202.51 low in a lesser degree 5 waves. Whereas wave ((iv)) ended at $222.21 high. Near-term, as far as bounces fail below $222.21 high the stock is expected to extend lower in wave ((v)). Towards 0.618%- 0.764% Fibonacci extension area of wave ((i)) – ((iii)) at $180.93- $171.20 area before a turn happens.
TSLA 1-Hour Elliott Wave Chart From 10.31.2023


TSLA Elliott Wave Video

VanEck Gold Miners ETF ($GDX) Reacted Higher After a Corrective Pull Back.
Hello everyone. In today’s article, we will look at the past performance of the 1H Hour Elliott Wave chart of VanEck Gold Miners ETF ($GDX). The rally from 10.04.2023 low unfolded as a 5 wave impulse. So, we expected the pullback to unfold in 3 swings and find buyers again. We will explain the structure & forecast below:
https://elliottwave-forecast.com/sto...ive-pull-back/