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Elliott Wave Analysis: S&P 500 (ES) Nearing Diagonal Wave 5 Completion

On August 2, the S&P 500 E-Mini futures (ES) pulled back to 6239.50, marking the low of wave 4. Wave 5, now underway, is unfolding as a five-wave diagonal pattern. A defining trait of a diagonal is the overlap between wave ((i)) and wave ((iv)) within its internal structure. From the wave 4 low, wave ((i)) peaked at 6508.75, followed by a retreat to 6362.75, concluding wave ((ii)). The index then resumed its upward trajectory in wave ((iii)), which itself contains a five-wave subdivision. From wave ((ii)), wave (i) reached 6424.25, and a brief dip to 6364 completed wave (ii).

The index climbed again in wave (iii) to 6496.25, with a subsequent pullback in wave (iv) ending at 6430.75. The final leg, wave (v), concluded at 6523, completing wave ((iii)). Wave ((iv)) then unfolded as a zigzag Elliott Wave structure. From wave ((iii)), wave (a) dropped to 6488.75, wave (b) rallied to 6505.75, and wave (c) declined to 6455.5, finalizing wave ((iv)). In the near term, as long as the pivot low at 6363 holds, any dips should find support in a 3, 7, or 11-swing pattern, setting the stage for further upside. This outlook supports continued bullish momentum in the index.

S&P 500 E-Mini Futures (ES) – 60 Minute Elliott Wave Technical Chart:

Attached Image (click to enlarge)

ES – Elliott Wave Technical Video:


Source: https://elliottwave-forecast.com/new...-5-completion/
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Elliott Wave Analysis: S&P 500 (ES) Nearing Diagonal Wave 5 Completion
On August 2, the S&P 500 E-Mini futures (ES) pulled back to 6239.50, marking the low of wave 4. Wave 5, now underway, is unfolding as a five-wave diagonal pattern. A defining trait of a diagonal is the overlap between wave ((i)) and wave ((iv)) within its internal structure. From the wave 4 low, wave ((i)) peaked at 6508.75, followed by a retreat to 6362.75, concluding wave ((ii)). The index then resumed its upward trajectory in wave ((iii)), which itself contains a five-wave subdivision. From wave ((ii)), wave (i) reached 6424.25, and a brief dip to 6364 completed wave (ii).

The index climbed again in wave (iii) to 6496.25, with a subsequent pullback in wave (iv) ending at 6430.75. The final leg, wave (v), concluded at 6523, completing wave ((iii)). Wave ((iv)) then unfolded as a zigzag Elliott Wave structure. From wave ((iii)), wave (a) dropped to 6488.75, wave (b) rallied to 6505.75, and wave (c) declined to 6455.5, finalizing wave ((iv)). In the near term, as long as the pivot low at 6363 holds, any dips should find support in a 3, 7, or 11-swing pattern, setting the stage for further upside. This outlook supports continued bullish momentum in the index.
S&P 500 E-Mini Futures (ES) – 60 Minute Elliott Wave Technical Chart:


ES – Elliott Wave Technical Video:

Elliott Wave Update: VST Corrects in Wave ((2)) Before Potential Surge
Vistra Corp., (VST) operates as an integrated retail electricity & power generation company in the United States. It operates through five segments like Retail, Texas, East, West & Asset Closure. It comes under Utilities sector & trades as “VST” ticker at NYSE.

As discussed in the previous article, VST favored rally in impulse ((1)) from April-2025 low. It ended ((1)) at $216.85 high above January-2025 high, confirmed bullish bias. Now, it is correcting in 3, 7 or 11 swings that offer buying set ups at extreme area.
VST – Elliott Wave Latest Daily View:


In Weekly, it made all time low of $11.30 in March-2020. Above that it ended impulse sequence of (I) at $199.84 high in January-2025. Within (I), it placed I at $107.24 high in May-2024 & II at $66.50 low as 0.382 Fibonacci retracement in August-2024. It ended III at $168.67 high in November-2024 in clear 5 swings & IV at $131.64 low in December-2024. Within III, it placed ((1)) at $87.89 high, ((2)) at $72.90 low, ((3)) at $143.87 high, ((4)) at $111.50 low & ((5)) at 168.67 high. Above IV low, it placed V at $199.84 high as (I) impulse. Below $199.84 high, it corrected lower in (II), which ended in daily blue box area at $90.51 low.
VST – Elliott Wave View From 6.16.2025:


Above $90.51 low, buyers got profitable ride in ((1)), which ended at $216.85 high as last update. Within ((1)), it placed (1) at $120.96, (2) at 103.34, (3) at $198.20, (4) as flat at $180.25 & (5) at $216.85 in diagonal. It broke above (I) high, confirmed bullish bias as the part of (III), which can extend in to $279.20 – $395.81. Below 8.05.2025 high of ((1)), it favors downside in (A) of ((2)) & expect one more push lower below $201.38 high. Later, it expects bounce in (B) in 3 or 7 swings against 8.05.2025 high followed by (C) down. We like to buy the pullback in extreme area of (C) against 4.07.2025 for next leg higher. If it failed to make a new low below 8.20.2025, then the bounce can be (X), while placed (W) at $183.85 low. In that case, we like to buy (Y) in extreme area in ((2)).
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TXN Elliott Wave Analysis Update: Calling Resurgence From Pullback
After it completed a 5-wave resurgence from the April 2025 blue box, TXN is about to correct this bullish cycle to a zone where it could attract fresh bids it would need to launch a new bullish cycle.

Texas Instruments (TXN) is a global semiconductor company known for designing and manufacturing analog and embedded processing chips. With products used in everything from industrial equipment to personal electronics, TXN plays a critical role in powering modern technology. Its consistent innovation and strong market presence make it a closely watched stock in the tech sector.
TXN completed its long-term grand supercycle degree wave ((II)) in October 2002, bottoming near $13. From that point, the stock began an extraordinary two-decade rally as grand supercycle degree wave ((III)) unfolded. Wave (I) of ((III)) ended in August 2007 at $39.6, followed by a sharp correction in wave (II), which took prices back down to about $13.4 in December 2008. Wave (III) then started in December 2008, and the stock turned strongly bullish after surpassing its prior all-time high of $99.8 from March 2000. It went on to reach a new peak of $202.2 in October 2021. That high marked the completion of wave III of (III) of ((III)). Afterward, TXN entered a corrective wave IV that extended until October 2023. From there, it resumed its advance and went on to register a fresh high of $220.38 in November 2024.
From the peak of November 2024 the stock fell to complete a 7-swing pullback for wave ((2)). The wave ((2)) pullback ended in the blue box where buyers were waiting to buy the stock again. Thus, from the blue box, it rallied sharply in a clear 5-wave structure to complete wave (1) of ((3)) in 7/11/2025 as we mentioned in the 7/21/2025 update. In that update, we mentioned the 5-wave recovery was close to completion and traders/investors should expect a deep pullback. It happened as expected. Wace A of (2) pullback ended with a 5-wave impulse on 8/01/2025 and then followed by a 3-wave correction for wave B. The chart below shows the recent forecast and what should expected for this stock.
TXN Elliott Wave Analysis – 9/01/2025

As the chart above shows, another 5-wave down could follow soon. Unless the top of wave (1) is breached, this is very likely. Thus, buyers should be waiting at the extreme of wave (2) for new entries. However, if the top of wave (1) is breached with the rally from 8/01/2025, then we can call wave (2) completed and anticipate wave (3) toward $310. Why looking forward to that target, traders can continue to buy at the extreme of 3/7/11 swing pullbacks in the shorter cycles.

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Cycle Maturity in JPM: Bulls Fatigued, Bears Warming Up
JPMorgan Chase (JPM) trades at $301.42, testing a breakout zone near its 52-week high. This level signals strong bullish momentum. The stock remains above its 50-day and 200-day moving averages by 3.39% and 15.00%, respectively. Investors continue to show confidence in JPM’s earnings and strategic direction. Despite macro uncertainty and policy shifts, the bank maintains upward strength.

Analysts remain bullish. The average price target sits at $302.93, suggesting limited upside. BofA Securities and Wells Fargo offer aggressive targets of $340 and $325. They cite JPM’s leadership in digital finance and AI integration. JPM also adapts well to regulatory changes. Although EPS dipped from $19.75 to $18.60, forecasts show a rebound to $19.82 next year.
JPMorgan Research expects strong U.S. growth and dollar resilience. These trends support financials like JPM. The firm’s broad exposure consumer banking, investment services, and fintech—offers strategic advantages. The Chase is well-positioned to benefit from AI adoption and global trade shifts.
Elliott Wave Outlook: JPM Weekly Charts September 2024


In 2024, we viewed the weekly Elliott Wave structure as a clear impulsive sequence from the March 2020 low. Wave ((1)) peaked at 172.28, then wave ((2)) corrected to 101.28. From there, price began wave ((3)), which remained incomplete. We projected wave ((3)) to end between 234 and 241. If no further extension developed, we expected sellers to emerge in that zone. This would likely trigger wave ((4))—a corrective phase before the next bullish leg. This is the last article: JPMorgan (JPM) Is Not Showing Weakness Near Term
If you’re eager to dive deeper into Elliott Wave Theory and learn how its principles apply to market forecasting, you might find these resources helpful: Elliott Wave Education and Elliott Wave Theory.
Elliott Wave Outlook: JPM Weekly Charts August 2025

In this latest update, we observe that wave (5) of ((3)) extended to 280.25 high, completing wave ((3)). This was followed by a zigzag correction as wave ((4)), which found its bottom in April. From here, we see two possible scenarios: First, JPM could build a full impulsive structure to complete wave ((5)), finalizing the entire cycle as wave I. This would imply a deeper correction toward the 160–200 zone as wave II before resuming the bullish trend. The second scenario, which we are currently favoring, suggests the market is forming an extended wave ((5)). In this case, the rally from April would mark wave (1) of ((5)), and once the impulse ends, a corrective wave (2) could bring prices down to the 260–240 area before continuing higher.

At the moment, the impulse from the April low appears to be nearing its final phase, specifically wave 5 of (1). Unless further bullish extensions emerge, this move should be close to completion. Therefore, we expect continued upside until the impulse is fully formed. A sharp bearish reaction would signal the beginning of the corrective wave (2). We expect the current impulse could terminate within the 299.43–329.66 range, so traders holding long positions should closely monitor price action as we approach this zone.
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Elliott Wave Analysis Nasdaq Futures (NQ) Double Correction Targets 22752 Downside

Nasdaq Futures (NQ) display a bearish sequence with a lower low from the 13 August high, signaling potential for further declines. The decline from this peak is unfolding as a double three Elliott Wave structure. From the 13 August high, wave W concluded at 23035. The subsequent wave X rally formed a zigzag pattern, with wave ((a)) peaking at 23369.25 and wave ((b)) dipping to 23076.75. The Index then climbed in wave ((c)) to 23804.49, completing wave X.

The Index has since resumed its descent in wave Y, breaking below the wave W low at 23035, confirming the next downward leg. From wave X, wave (a) ended at 23370.5, followed by a wave (b) rally to 23509.5. The Index then continued lower in wave (c) to 23025.25, finalizing wave ((w)). Currently, wave ((x)) is underway, correcting the cycle from the 29 August high before the Index turns lower again. In the near term, as long as the pivot at 23804.49 remains intact, expect any rally to falter in a 3, 7, or 11 swing, leading to further downside. The projected target for wave Y lies between 22111.1 and 22752, based on the 100% – 161.8% Fibonacci extension of wave W.

Nasdaq Futures (NQ) – 60 Minute Elliott Wave Technical Chart:

Attached Image (click to enlarge)

NQ – Elliott Wave Technical Video:


Source: https://elliottwave-forecast.com/new...2752-downside/
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GDX Elliott Wave Update: Rally Gains Momentum in Wave ((iii))

The Short Term Elliott Wave View for the Gold Miners ETF (GDX) indicates a 5-wave impulse cycle from the low on August 11, 2025. The wave ((i)) peaked at 58.88. Then, the wave ((ii)) dip concluded at 56.53. The index has climbed again in wave ((iii)) with a smaller impulse structure. From the wave ((ii)) low, wave (i) reached 61.73. Next, the wave (ii) pullback finished at 60.47.

We anticipate wave (iii) will end soon. After that, a wave (iv) pullback should correct the cycle from the August 27, 2025 low. The index will likely rise again in wave (v) to complete wave ((iii)). Expect a series of wave 3-4 and pullback to continue to stay supported. As long as the 56.53 pivot holds, expect pullbacks to find support at the 3, 7, or 11 swing levels. This setup favors more upside.

Gold Miners ETF (GDX) – 30 Minute Elliott Wave Technical Chart:



GDX – Elliott Wave Technical Video:


Source: https://elliottwave-forecast.com/new...ntum-wave-iii/
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KO Alert: Is an Ending Diagonal About to Disrupt the Rally?
Coca-Cola (KO) shows resilience in a shifting market. In Q2 2025, it posted 5% organic revenue growth and 58% EPS jump. Despite currency headwinds, KO improved operating margin to 34.1%, driven by pricing power, cost control, and strategic campaigns like “Share a Coke.”

Although unit case volume dipped slightly due to weather and consumer pressure, Coca-Cola Zero Sugar and core brands gained momentum. Analysts remain optimistic, highlighting KO’s brand loyalty, strong dividend, and flexible pricing as key strengths in uncertain conditions.
Looking ahead, Coca-Cola plans to launch a cane sugar-based product in the U.S. this fall. At the same time, it reevaluates Costa Coffee’s future after underwhelming performance since 2018. Financially, KO holds solid fundamentals with a P/E ratio of 24.46 and a $297B market cap.
Despite a temporary dip in free cash flow from a $6.1B Fairlife payment, KO maintains strong long-term guidance. It projects 8% EPS growth for the year. Banks and analysts share a bullish outlook. MarketBeat reports a consensus “Buy” rating and a $77.21 price target—an 11.89% upside.
Technical analysts highlight a breakout zone between $67.74 and $69.14. They cite KO’s pricing power and dividend yield as key entry signals. As September brings volatility, KO’s defensive profile and global brand appeal attract institutional investors seeking stability.
Elliott Wave Outlook Ending Diagonal: KO Montly Chart September 2025

On KO’s monthly chart, we’ve identified a leading diagonal from the all-time low to April 2025 high as wave ((I)). Wave (V) of ((I)) appears to form an ending diagonal, confirmed through technical analysis. This Elliott Wave pattern often signals exhaustion, suggesting the market may be losing bullish momentum. If the structure proves correct, long-term investors should prepare for a possible correction. In the worst-case scenario, price could drop toward the $40.00 zone. This setup deserves close attention, especially as structural patterns often precede major shifts.

Elliott Wave Outlook Nest: KO Montly Chart September 2025

Another way to view the chart is as a nest, multiple 1-2 waves forming over time. Currently, we may be in wave I-II. Unlike the first scenario, this one implies a shallower correction. Therefore, wave II could drop only to the 60–50 zone before the rally resumes. If the ending diagonal holds, this setup is ideal. KO has shown strong bullish behavior with minor pullbacks, unless disrupted by major events like a recession or the 2020 pandemic. Additionally, we must consider a possible extension in the ending diagonal. This lies between 76.56 – 81.49 area. If KO reaches this zone without correcting and maintains the diagonal structure, the pullback may occur there. However, if price breaks above 81.49, the diagonal will fail, and KO would continue higher.

Elliott Wave Outlook Impulse: KO Montly Chart September 2025

To conclude, this is the core idea that supports KO’s bullish outlook assuming no major correction unfolds. The goal is to generate new highs and controlled pullbacks, gradually building a long-term impulse that completes Coca-Cola’s cycle from its inception.

If you’re eager to dive deeper into Elliott Wave Theory and learn how its principles apply to market forecasting, you might find these resources helpful: Elliott Wave Education and Elliott Wave Theory.
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GDX Elliott Wave Update: Rally Gains Momentum in Wave ((iii))
The Short Term Elliott Wave View for the Gold Miners ETF (GDX) indicates a 5-wave impulse cycle from the low on August 11, 2025. The wave ((i)) peaked at 58.88. Then, the wave ((ii)) dip concluded at 56.53. The index has climbed again in wave ((iii)) with a smaller impulse structure. From the wave ((ii)) low, wave (i) reached 61.73. Next, the wave (ii) pullback finished at 60.47.

We anticipate wave (iii) will end soon. After that, a wave (iv) pullback should correct the cycle from the August 27, 2025 low. The index will likely rise again in wave (v) to complete wave ((iii)). Expect a series of wave 3-4 and pullback to continue to stay supported. As long as the 56.53 pivot holds, expect pullbacks to find support at the 3, 7, or 11 swing levels. This setup favors more upside.
Gold Miners ETF (GDX) – 30 Minute Elliott Wave Technical Chart:


GDX – Elliott Wave Technical Video:

E-mini Russell 2000 Index Futures (RTY) Targets Wave 5 Diagonal

The short-term Elliott Wave analysis for E-Mini Russell 2000 Index Futures (RTY) indicates a rally from the August 1, 2025 low, unfolding as a diagonal pattern. Starting from that low, wave 1 peaked at 2338.1, followed by a wave 2 dip concluding at 2257.59. The Index then surged in wave 3, displaying an internal structure of five waves, as illustrated in the one-hour chart. From wave 2, wave ((i)) reached 2279.7, with a pullback in wave ((ii)) ending at 2258.10. The ascent continued with wave ((iii)) peaking at 2374.90, followed by a wave ((iv)) correction to 2330.80. The final leg, wave ((v)), concluded at 2398.6, completing wave 3 at a higher degree.

Wave 4 unfolded as a double three Elliott Wave structure. From wave 3’s peak, wave ((w)) declined to 2362.2, and wave ((x)) rallied to 2376. Wave ((y)) then dropped to 2326.10, finalizing wave 4. The Index has since resumed its upward trajectory in wave 5. From wave 4’s low, wave ((i)) reached 2362, with wave ((ii)) correcting to 2341.90. In the near term, as long as the pivot low at 2257.59 holds, pullbacks should find support in a 3, 7, or 11 swing, paving the way for further upside.

E-Mini Russell 200 Index Futures (RTY) – 60 Minute Elliott Wave Technical Chart:

Attached Image (click to enlarge)

RTY – Elliott Wave Technical Video:


Source: https://elliottwave-forecast.com/new...ve-5-diagonal/
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E-mini Russell 2000 Index Futures (RTY) Targets Wave 5 Diagonal
The short-term Elliott Wave analysis for E-Mini Russell 2000 Index Futures (RTY) indicates a rally from the August 1, 2025 low, unfolding as a diagonal pattern. Starting from that low, wave 1 peaked at 2338.1, followed by a wave 2 dip concluding at 2257.59. The Index then surged in wave 3, displaying an internal structure of five waves, as illustrated in the one-hour chart. From wave 2, wave ((i)) reached 2279.7, with a pullback in wave ((ii)) ending at 2258.10. The ascent continued with wave ((iii)) peaking at 2374.90, followed by a wave ((iv)) correction to 2330.80. The final leg, wave ((v)), concluded at 2398.6, completing wave 3 at a higher degree.

Wave 4 unfolded as a double three Elliott Wave structure. From wave 3’s peak, wave ((w)) declined to 2362.2, and wave ((x)) rallied to 2376. Wave ((y)) then dropped to 2326.10, finalizing wave 4. The Index has since resumed its upward trajectory in wave 5. From wave 4’s low, wave ((i)) reached 2362, with wave ((ii)) correcting to 2341.90. In the near term, as long as the pivot low at 2257.59 holds, pullbacks should find support in a 3, 7, or 11 swing, paving the way for further upside.
E-Mini Russell 200 Index Futures (RTY) – 60 Minute Elliott Wave Technical Chart:

Attached Image (click to enlarge)

RTY – Elliott Wave Technical Video:

iShares Russell 2000 ETF (IWM)- Elliott Wave Buying the Dips at the Blue Box
As our members know we have had many profitable trading setups recently. In this technical article, we are going to talk about another Elliott Wave trading setup we got in iShares Russell 2000 ETF -IWM . The ETF has completed its correction exactly at the Equal Legs zone, also known as the Blue Box Area. In this article, we’ll break down the Elliott Wave forecast, explain the trading setup in detail, and provide the upside target.

IWM Elliott Wave 1 Hour Chart 8.20.2025
IWM is forming a three-wave pullback against the 212.33 low. The price has already reached the Blue Box (buying zone). We have entered long trades at the equal legs level of 224.52. We expect at least a three-wave bounce from the Blue Box area. Once the price reaches the 50% Fibonacci retracement of the red B connector, we will make the position risk-free by moving the stop loss to breakeven and booking partial profits.
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IWM Elliott Wave 1 Hour Chart 8.20.2025

The ETF found buyers as expected, rallying toward new highs. Consequently, any long positions from the Blue Box should now be risk-free. We’ve set our stop loss at breakeven and have already secured partial profits. As long as the price holds the pivot at the 223.64 low, we can expect at least another leg up as indicated on the chart.
Short term: While above the 230.84 low (wave 4 red), IWM is ideally targeting the 239.41–242.03 area next.
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IRFC Elliott Wave Analysis: Wave II Correction Nearing Completion Before Major Bullish Rally
Indian Railway Finance Corporation Ltd. (IRFC) is correcting within a double three Elliott Wave pattern in wave II after completing a strong five-wave rally in wave I.

Indian Railway Finance Corporation Ltd. (IRFC) has maintained a strong bullish trend over the past months. After forming a significant low, the stock started a powerful rally, completing a clear five-wave advance in wave I. This upward move confirmed the larger bullish cycle and showed strong investor confidence.
Currently, IRFC is in a corrective phase within wave II. This pullback aims to retrace part of the prior wave I advance. The correction is forming a double three pattern (W)-(X)-(Y), a common Elliott Wave structure in complex corrections. The first leg, wave ((W)), has already completed. After that, the price bounced in wave ((X)). Now, price action suggests that wave ((Y)) is likely to unfold soon before wave II reaches its base.

The broader bullish view stays valid as long as the price remains above the key invalidation level at ₹19.30. We do not recommend selling at current levels. Instead, traders should prepare for potential buying opportunities once the wave II correction ends.

Once the correction finishes, a strong wave III rally is expected to start. This next bullish leg is likely to take prices to new highs, continuing the long-term uptrend. Investors and traders should watch the upcoming support zones closely, as they may offer attractive low-risk entry points in line with the right-side bullish view.
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Lennox International (LII) Elliott Wave Analysis – Correction Ahead Before the Next Rally
LII stock enters a wave IV corrective phase, offering potential buying opportunities before a strong bullish wave V rally resumes.

Lennox International (LII) has been in a strong uptrend for many years, following a clear Elliott Wave impulsive structure. The stock recently completed wave III on the monthly chart and is now entering a corrective phase marked as wave IV. This pullback is a healthy part of the overall bullish cycle and offers opportunities for long-term investors.
Expected Elliott Wave Structure:
The ongoing correction is likely to unfold as a three-wave structure, which is highly probable due to the principle of alternation, given that Wave II was a flat correction.. The first leg, wave ((A)), is expected to drive prices lower in the short term. After that, a wave ((B)) recovery may follow before wave ((C)) completes the correction. Once wave IV ends, wave V is expected to begin, likely pushing prices to new highs. This upcoming rally could offer strong potential for long-term investors.


At present, LII is trading near $578 and showing early signs of weakness as the correction begins. However, the broader uptrend remains intact as long as prices stay above the invalidation level at $19.72. Traders should avoid aggressive selling during this phase and instead prepare to enter when wave IV nears completion. Watching Fibonacci retracement zones and blue box buying areas can help identify possible reversal levels.
Final Outlook:
LII remains in a larger bullish cycle despite the ongoing corrective phase. Patience will be key, as a deeper pullback in wave IV can create attractive entry setups before the next rally in wave V begins.
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Magnificent Seven ETF (MAGS) Set to End Cycle from April 2025 Low
The Magnificent Seven ETF (MAGS) is an exchange-traded fund that tracks the performance of seven leading U.S. technology companies. These companies are often referred to as the “Magnificent Seven.” These include major players like Apple, Microsoft, Amazon, Alphabet, Meta, Tesla, and NVIDIA. The ETF provides investors with diversified way to invest in the innovation and market dominance of these industry leaders. In this article, we will explore the long term Elliott Wave path of this ETF.

MAGS Weekly Elliott Wave Chart

The weekly Elliott Wave chart for the Magnificent Seven ETF (MAGS) indicates a completed five-wave impulsive rally, peaking at $58.69 in wave (I). The subsequent correction in wave (II) appears to have concluded at $39. MAGS has since turned upward, initiating wave (III). The rally from the wave (II) low in April 2025 is mature, suggesting wave I is nearing completion. A corrective pullback in wave II is expected soon, followed by a resumption of the upward trend.

MAGS Daily Elliott Wave Chart

The daily Elliott Wave chart for the Magnificent Seven ETF (MAGS) reveals that wave (II) unfolded as a double-three corrective structure following the wave (I) all-time high at $58.69. Wave w declined to $45.67, wave x rebounded to $49.46, and wave y concluded at $38.98, completing wave (II). Since then, MAGS has initiated an impulsive rally, marking the start of wave (III).

From the wave (II) low, wave ((1)) peaked at $46.67, followed by a wave ((2)) pullback to $40.58. The ETF then advanced in wave ((3)) to $60.96, with a wave ((4)) dip concluding at $57.83. MAGS should extend slightly higher to complete wave ((5)), which should also finalize wave I of a higher degree. Subsequently, expect a corrective wave II pullback against the cycle from the April 2025 low before the uptrend resumes. As long as the $38.98 pivot low remains intact, any pullback should find support in a 3, 7, or 11 swing, setting the stage for further upside.
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Elliott Wave Insights for QQQ Nearing wave (3) Termination at 589

The short-term Elliott Wave analysis for the Nasdaq 100 Index ETF (QQQ) indicates it is approaching the completion of wave (3) from its April 2025 low. This wave (3) unfolds as a five-wave impulse structure. Wave 1 concluded at 467.83, followed by a wave 2 pullback to 427.93. Subsequently, wave 3 surged to 583.32, and wave 4 retraced to 558.84, as illustrated in the 45-minute chart.

Currently, wave 5 is developing as a diagonal pattern. From the wave 4 low, wave ((i)) peaked at 578, with wave ((ii)) dipping to 559.53. Wave ((iii)) then climbed to 581.12, followed by a wave ((iv)) pullback to 571.53. As long as the ETF remains above 559.53, it is poised to extend higher in wave ((v)) of 5, which should also finalize wave (3) on a higher degree. The potential target for wave 5 lies between 589 and 598, calculated using the 123.6% to 161.8% inverse Fibonacci retracement of wave 4.

This analysis suggests a bullish near-term outlook for QQQ, with the ETF likely to reach the projected range before completing wave (3). Traders should monitor the 559.53 support level to confirm the continuation of this upward move. The structure remains intact, supporting further gains in the short term.

Nasdaq 100 ETF (QQQ) – 45 Minute Elliott Wave Technical Chart:

Attached Image (click to enlarge)

QQQ – Elliott Wave Technical Video:


Source: https://elliottwave-forecast.com/new...rmination-589/
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Alnylam (ALNY) Should Rally Into $479-$494 Before Correction Start
Alnylam Pharmaceuticals Inc., (ALNY) discovers, develops & commercializes therapeutics based on ribonucleic acid interference. It comes under Healthcare – Biotech sector & trades as “ALNY” ticker at Nasdaq.

ALNY is showing strong rally from April-2025 low in previous article & expect further rally once (4) pullback ends. It rallied more than 40% since last update in (3) of ((3)). It expects one more push higher to finish April-2025 cycle in ((3)) before correcting next. We like to buy the pullback in ((4)) in 3, 7 or 11 swings at extreme area.
ALNY – Elliott Wave Latest Weekly View:

It ended ((I)) at $140 high since inception in June-2025 & ((II)) pullback at $31.38 low in October-2016. Above there, it is showing nest as the part of (III) of ((III)). It placed (I) of ((III)) at $153.99 high in March-2018 & (II) at $60.27 low in December-2018. Within (III), it placed I at $242.97 high in December-2022 as diagonal & II at $141.97 low in April-2024. It placed ((1)) at $212 high, ((2)) at $117.58 low, ((3)) at $236.80 high, ((4)) at $181.65 low & ((5)) at $242.97 high. It corrected II in zigzag correction ended at 0.50 Fibonacci retracement of I.
ALNY – Elliott Wave View From 7.14.2025:


Above April-2024 low of II, it placed ((1)) of III at $304.39 high & ((2)) at $205.87 low on 4.07.2025 low. Currently, it favors rally in ((3)) of III & already reached the 1.618 Fibonacci extension of ((1)), but still can extend more. Within ((3)), it placed (1) at $333.70 high, (2) at $309.57 low, (3) at $469.81 high & favors pullback in (4). It expects (4) pullback to find support between $431.85 – $408.34 before rally in (5) to finish ((3)) impulse sequence. Wave ((3)) expect to end with one more push higher towards $479 – $494 area later before correcting in ((4)). We like to buy the next big pullback in ((4)) in 3, 7 or 11 swings against 4.07.2025 low.
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Elliott Wave Insights for QQQ Nearing wave (3) Termination at 589
The short-term Elliott Wave analysis for the Nasdaq 100 Index ETF (QQQ) indicates it is approaching the completion of wave (3) from its April 2025 low. This wave (3) unfolds as a five-wave impulse structure. Wave 1 concluded at 467.83, followed by a wave 2 pullback to 427.93. Subsequently, wave 3 surged to 583.32, and wave 4 retraced to 558.84, as illustrated in the 45-minute chart.

Currently, wave 5 is developing as a diagonal pattern. From the wave 4 low, wave ((i)) peaked at 578, with wave ((ii)) dipping to 559.53. Wave ((iii)) then climbed to 581.12, followed by a wave ((iv)) pullback to 571.53. As long as the ETF remains above 559.53, it is poised to extend higher in wave ((v)) of 5, which should also finalize wave (3) on a higher degree. The potential target for wave 5 lies between 589 and 598, calculated using the 123.6% to 161.8% inverse Fibonacci retracement of wave 4.
This analysis suggests a bullish near-term outlook for QQQ, with the ETF likely to reach the projected range before completing wave (3). Traders should monitor the 559.53 support level to confirm the continuation of this upward move. The structure remains intact, supporting further gains in the short term.
Nasdaq 100 ETF (QQQ) – 45 Minute Elliott Wave Technical Chart:


QQQ – Elliott Wave Technical Video:

Elliott Wave Blue Box Payoff: CADJPY Drops as Predicted
In this technical blog, we are going to take a look at the past performance of CADJPY Daily Elliott wave Charts that we presented to our members. In which, the decline from 7.10.2024 high took place in a double three corrective sequence and showed a lower sequence calling for more downside to happen. Therefore, our members knew that selling the bounces in the direction of the right side tag remained the preferred path. We will explain the Elliott wave structure & selling opportunity our members took below:

CADJPY Daily Elliott Wave Chart From 7.19.2025

CADJPY Daily Elliott Wave Chart from 7.19.2025 Weekend update. In which the pair is showing 5 swings lower low sequence supporting 6th bounce to fail for another leg lower to complete 7 swings corrective sequence from the peak. Whereas the decline to 101.26 low ended wave (A) of ((Y)). Up from there, the pair made a bounce towards the blue box area within wave (B). The internals of that bounce unfolded as zigzag structure where wave A ended at 106.25 high. Wave B pullback ended at 103.01 low. And wave C managed to reach the blue box area. From there, sellers were expected to appear looking for further downside or a minimum 3-wave reaction lower.

CADJPY Latest Daily Elliott Wave Chart From 9.06.2025

This is the latest Daily view from the 9.06.2025 Weekend update. In which the pair is showing a reaction lower taking place from the blue box area. Allowing shorts to get into a risk-free position shortly after taking the position. However, a break below 101.26 low is needed to confirm the next extension lower & avoid double correction lower.

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NVIDIA Corp. $NVDA Blue Box Area Offers A Buying Opportunity
Hello everyone! In today’s article, we’ll examine the recent performance of NVIDIA Corp. ($NVDA) through the lens of Elliott Wave Theory. We’ll review how the rally from the April 2025 low unfolded as a 5-wave impulse followed by a 7-swing correction (WXY) and discuss our forecast for the next move. Let’s dive into the structure and expectations for this stock.

5 Wave Impulse + 7 Swing WXY correction

$NVDA 4H Elliott Wave Chart 8.31.2025:
In the 4-hour Elliott Wave count from August 31, 2025, we saw that $NVDA completed a 5-wave impulsive cycle at (5) of ((3)). As expected, this initial wave prompted a pullback. We anticipated this pullback to unfold in 7 swings, likely finding buyers in the equal legs area between $167.02 and $156.24.
This setup aligns with a typical Elliott Wave correction pattern (WXY), in which the market pauses briefly before resuming its primary trend.
Conclusion
In conclusion, our Elliott Wave analysis of NVIDIA Corp. ($NVDA) suggests that it remains supported against September 2025 lows. As a result, traders should buy the dips and monitor the $190 – 197 zone as the next potential target. In the meantime, keep an eye out for any corrective pullbacks that may offer entry opportunities. By applying Elliott Wave Theory, traders can better anticipate the structure of upcoming moves and enhance risk management in volatile markets.
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