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Elliott Wave View: Nasdaq (NQ) Consolidation Likely to Break Lower

Since peaking on October 30, 2025, the Nasdaq (NQ) has remained in a sideways consolidation, a pattern that appears poised to resolve lower. The decline from that high marked the completion of wave (W) at 23,994.5. Subsequently, a corrective rally unfolded, ending wave (X) at 26,349, after which the Index turned down again into wave (Y). The internal structure of wave (Y) is developing as a double three Elliott Wave formation, underscoring the complexity of the ongoing correction.
From the termination of wave (X), the market produced a decline that completed wave W at 24,000. Following this, wave X began to unfold as a zigzag Elliott Wave structure. Within this sequence, wave ((a)) advanced to 25,217.5 before a pullback commenced in wave ((b)). This retracement is currently in progress and serves to correct the cycle that began from the March 9, 2026 low. Once this correction is complete, the expectation is for the Index to resume higher in wave ((c)) of X.
In the near term, as long as the pivot at 23,994.8 remains intact, the Index retains the potential to turn upward in wave ((c)). Such a move would complete the corrective rally in wave X before the broader downtrend resumes. The overall structure suggests that while short-term strength may emerge, the larger corrective sequence is not yet finished, and the eventual resolution is likely to favor the downside.
Nasdaq (NQ) 60-Minute Elliott Wave Chart


NQ Elliott Wave Video:

AUBANK Expanding Triangle Suggests Strong Upside Toward 1138
AUBANK completes a rare expanding triangle in wave (4), suggesting the next impulsive rally could target the 1138–1322 region as the broader bullish cycle continues.
AU Small Finance Bank Ltd. (AUBANK) appears to have completed its cycle degree correction in wave II at 477.75. The stock then turned higher and started a new bullish cycle in wave III. This move suggests that the market has entered a fresh impulsive phase with strong long-term potential. From the 477.75 low, the stock formed an initial three-wave advance. After that rally, price entered a corrective phase labeled blue wave (4). This pullback unfolded as an expanding triangle, which is a rare Elliott Wave pattern. Such triangles usually appear before a strong continuation of the trend.


Expanding Triangle Indicates Trend Continuation
The triangle pattern appears to have completed near 895.05. This completion suggests the consolidation phase has likely ended. As a result, AUBANK may now begin the next impulsive leg higher. Expanding triangles often build pressure before a breakout. In this case, the structure supports the view that the next move should occur in wave 5. This wave should complete black wave ((1)) of the larger bullish sequence.
Using Fibonacci extensions, the next upside target comes near 1138.75. This level represents the 0.618 extension of wave (3). It acts as the minimum expected target for the current bullish move. However, Elliott Wave rules also define an upper boundary. Since wave (3) is already shorter than wave (1), wave 5 should remain below 1322.35. A move above this level would violate the rule that the third wave cannot be the shortest.
Pullback Could Offer Buying Opportunity
After the rally reaches the 1138.75–1322.35 region, the market may enter a correction in wave ((2)). This pullback could unfold in 3, 7, or 11 swings, which are common corrective structures. As long as price stays above 477.75, the long-term bullish outlook remains valid. The current structure suggests that AUBANK may continue higher in the near term. Traders should watch pullbacks for potential buying opportunities within the broader uptrend.

USDJPY Impulsive Advance: Elliott Wave Signals More Upside

The short-term Elliott Wave outlook for USDJPY indicates that the cycle from the January 28, 2026 low remains in progress, unfolding as an impulsive structure. From that low, wave (1) concluded at 157.72, followed by a corrective pullback in wave (2), which ended at 152.25. The market then advanced into wave (3), developing as an impulse of lesser degree. Within this sequence, wave 3 of (3) terminated at 156.82, as reflected in the one-hour chart. Subsequently, wave 4 of (3) completed at 155.57, setting the stage for the current advance in wave 5.

From the wave 4 low, wave ((i)) finished at 157.97, while the corrective wave ((ii)) ended at 156.44. The rally then resumed, with wave ((iii)) reaching 158.90 before another modest pullback in wave ((iv)) concluded at 157.26. The structure now points toward the completion of wave ((v)), which should finalize the broader wave 5 of (3) sequence. This progression highlights the sustained impulsive character of the rally, with each corrective phase finding support before resuming higher.

Near term, as long as the pivot at 155.57 remains intact, dips are expected to hold in either three or seven swings. This technical condition favors continued upside extension, reinforcing the view that the impulsive rally is not yet complete. Traders should monitor short-term corrections carefully, as they are likely to provide opportunities for participation in the ongoing bullish cycle. The overall structure suggests that USDJPY retains upward momentum, with the Elliott Wave framework offering a clear roadmap for the next stages of development.

USDJPY 60-Minute Elliott Wave Chart

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USDJPY Elliott Wave Video:

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Source: https://elliottwave-forecast.com/new...s-more-upside/

USDJPY Impulsive Advance: Elliott Wave Signals More Upside

The short-term Elliott Wave outlook for USDJPY indicates that the cycle from the January 28, 2026 low remains in progress, unfolding as an impulsive structure. From that low, wave (1) concluded at 157.72, followed by a corrective pullback in wave (2), which ended at 152.25. The market then advanced into wave (3), developing as an impulse of lesser degree. Within this sequence, wave 3 of (3) terminated at 156.82, as reflected in the one-hour chart. Subsequently, wave 4 of (3) completed at 155.57, setting the stage for the current advance in wave 5.
From the wave 4 low, wave ((i)) finished at 157.97, while the corrective wave ((ii)) ended at 156.44. The rally then resumed, with wave ((iii)) reaching 158.90 before another modest pullback in wave ((iv)) concluded at 157.26. The structure now points toward the completion of wave ((v)), which should finalize the broader wave 5 of (3) sequence. This progression highlights the sustained impulsive character of the rally, with each corrective phase finding support before resuming higher.
Near term, as long as the pivot at 155.57 remains intact, dips are expected to hold in either three or seven swings. This technical condition favors continued upside extension, reinforcing the view that the impulsive rally is not yet complete. Traders should monitor short-term corrections carefully, as they are likely to provide opportunities for participation in the ongoing bullish cycle. The overall structure suggests that USDJPY retains upward momentum, with the Elliott Wave framework offering a clear roadmap for the next stages of development.
USDJPY 60-Minute Elliott Wave Chart


USDJPY Elliott Wave Video:

Ford (F) Elliott Wave Outlook
Analysts expect Ford (F) stock to trade in a tight range during Q2. However, they see moderate upside if margins stabilize. Most firms keep a Hold rating because tariffs and EV losses still pressure sentiment. Even so, strong cash flow helps limit downside risk.
Moreover, analysts note that Ford Pro growth supports valuation. Some expect a slow recovery if cost controls improve. Therefore, the stock could attempt a mild rebound toward consensus targets. Still, weak pricing and industry uncertainty may cap gains.
Elliott Wave Outlook: Ford (F) Weekly Chart Nov 2025

Attached Image (click to enlarge)

In the last update, wave B climbed sharply and formed a double correction. It still showed potential to break above 13.97. Then sellers defended the 14.88 high, which acted as a key level. For the bearish scenario to hold, price must stay below this level and move toward 7.79–6.05. Moreover, a break above 14.88 would signal that wave II ended at the 8.36 low. This shift would turn the structure bullish and open higher targets.
Elliott Wave Principle Behind the Market Structure
Impulse
An impulse is a clean 5‑wave pattern that drives the trend forward.

1. Waves 1‑3‑5 are strong and directional.
2. No overlap between waves 1 and 4.
3. Wave 3 is usually the strongest.
4. Structure is clear, with increasing momentum.

Elliott Wave Outlook: Ford (F) Weekly Chart March 2026


In this update, we see that wave B failed to break the wave (X) high and reached 14.80. Then price reacted sharply lower, which kept the bearish paths intact. Now we expect the market to form an impulse as wave C toward the blue‑box area at 8.28–4.26.
Moreover, we believe buyers will enter again once price reaches this zone. This reaction would complete the entire wave II correction and support a new rally in the stock.
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Elliott Wave Analysis: Gold Miners ETF (GDX) Zigzag Correction Underway

The short-term view for the Gold Miners ETF (GDX) shows a correction unfolding in a zigzag Elliott Wave structure. From the all-time high on March 2, wave ((A)) ended at $95.96. A rally in wave ((B)) followed, reaching $105.74. The ETF then resumed its decline and broke below the termination point of wave ((A)), signaling that wave ((C)) has begun. Fibonacci projections suggest a potential downside target between $71.6 and $84.6, which corresponds to the 100%–161.8% extension of wave ((A)).

Wave ((C)) is developing as a five-wave impulse. From the peak of wave ((B)), the initial decline marked wave (1), which ended at $91.13. The rally in wave (2) is now in progress, correcting the cycle from the March 10, 2026 high. This correction is expected to unfold in either three or seven swings before the broader downtrend resumes. The near-term pivot remains at the $105.74 high. As long as this level holds, rallies should be viewed as corrective. They are likely to fail in three or seven swings, opening the path for further weakness.

In conclusion, the Elliott Wave framework highlights that GDX is in the midst of a structured zigzag correction. The ongoing development of wave ((C)) points to additional downside risk. Fibonacci levels provide a clear roadmap for potential price objectives, while the corrective rally offers traders a chance to confirm the bearish continuation implied by the larger wave count.

GDX 60-Minute Elliott Wave Chart

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GDX Elliott Wave Video:

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Source: https://elliottwave-forecast.com/new...tion-underway/

Elliott Wave Analysis: Gold Miners ETF (GDX) Zigzag Correction Underway

The short-term view for the Gold Miners ETF (GDX) shows a correction unfolding in a zigzag Elliott Wave structure. From the all-time high on March 2, wave ((A)) ended at $95.96. A rally in wave ((B)) followed, reaching $105.74. The ETF then resumed its decline and broke below the termination point of wave ((A)), signaling that wave ((C)) has begun. Fibonacci projections suggest a potential downside target between $71.6 and $84.6, which corresponds to the 100%–161.8% extension of wave ((A)).
Wave ((C)) is developing as a five-wave impulse. From the peak of wave ((B)), the initial decline marked wave (1), which ended at $91.13. The rally in wave (2) is now in progress, correcting the cycle from the March 10, 2026 high. This correction is expected to unfold in either three or seven swings before the broader downtrend resumes. The near-term pivot remains at the $105.74 high. As long as this level holds, rallies should be viewed as corrective. They are likely to fail in three or seven swings, opening the path for further weakness.
In conclusion, the Elliott Wave framework highlights that GDX is in the midst of a structured zigzag correction. The ongoing development of wave ((C)) points to additional downside risk. Fibonacci levels provide a clear roadmap for potential price objectives, while the corrective rally offers traders a chance to confirm the bearish continuation implied by the larger wave count.
GDX 30-Minute Elliott Wave Chart


GDX Elliott Wave Video:

AUDCHF : Moved Higher and Banked +45 Pips +3%

March 16 2026 I entered the buy entry on the AUDCHF pair at 0.5542 with a 15 pip stop loss at 0.5527 and was looking for a move higher to the 3R target at 0.5587.
Buy Trade Setup
1. Price taps the bullish daily FVG zone (Gray) and reacted with a move higher.
2. Price breaks above bullish CHoCH/Change of Character level. (Black line)
3. Price breaks above descending channel signalling a bullish bias. (Black dotted line)
4. Price taps bullish FVG zone (Purple).
4. All combined together and entered the BUY/LONG trade with confidence.
AUDCHF 1 Hour Chart March 16 2026


AUDCHF moves higher and hits 3R target at 0.5587 from 0.5542 and I closed trade for +45 pips (+3% gain risking 1% on every trade)
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XLE Attracts Consistent Buying from Blue Box Zone

In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of state street energy select sector SPDR ETF ticker symbol: XLE. In which, the rally from April 2025 low is unfolding as an impulse structure. And showed a higher high sequence favored more upside extension to take place. Therefore, we advised members not to sell the ETF & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:
XLE 1-Hour Elliott Wave Chart From 3.03.2026


Here’s the 1-hour Elliott wave chart from the 3.03.2026 Midday update. In which, the cycle from the 16 December 2025 low ended in wave ((3)) at $59.29 high. Down from there, the XLE made a pullback in wave ((4)). The internals of that pullback unfolded as Elliott wave double three correction where wave (W) ended at $57.88 low. Then a bounce to $58.36 high ended wave (X) & wave (Y) managed to reach the blue box area at $55.33- $53.46 equal legs area. From there, buyers were expected to appear looking for the next leg higher or for a 3 wave bounce minimum.
XLE Latest 1-Hour Elliott Wave Chart From 3.17.2026
https://elliottwave-forecast.com/wp-...0316171547.jpg
This is the latest 1-hour Elliott wave Chart from the 3.16.2026 Post-Market update. In which the XLE is showing a very nice 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 $59.29 high is needed to confirm the next leg higher minimum towards $60.24- $61.75 target area before profit taking & pullback takes place in 3 or 7 swings.
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Johnson & Johnson (JNJ) Forecast: Extended Rally Signals Patience for Buyers

Johnson & Johnson (JNJ) engages in research & development, manufacture & sale of range of products in the healthcare sector worldwide. It operates through Innovative Medicine & MedTech. It comes under Healthcare sector & trades as “JNJ” at NYSE.
The JNJ favors rally in bullish sequence from January-2025 low & expect at least one or few more highs to extend rally. Buyers can look to enter the pullback in 3, 7 or 11 swings correction for next leg higher.
JNJ – Elliott Wave Latest Daily View:

In weekly, it ended (I) impulse at $186.69 high in April-2022 & (II) correction at $140.68 low in January-2025. The pullback in (II) as choppy double three structure. Within (II), it ended w at $150.11 low, x at $175.97 high & y at $140.68 low. Above April-2025 low, it ended ((1)) of I at $169.99 high, ((2)) at $141.50 low, ((3)) at $251.71 high & favors pullback in ((4)) in 3 or 7 swings (or triangle) correction. It is showing extended ((3)) sequence. In ((3)), it ended (1) at $159.44 high, (2) at $146.12 low, (3) at $215.19 high, (4) at $200.91 low & (5) at $251.71 high.
Currently, it favors pullback in ((4)) below 3.02.2026 high. It ended (A) of ((4)) at $235.43 low. Above there, it favors bounce in (B), which can retest March-2025 high before it may turn lower to correct (C) against 4.05.2026 low. Buyers can look for buy at extreme area in (C) of ((4)) & later in II correction. If it breaks above 3.02.2026 high, then it can be the part of (5) of ((3)). The ((4)) can possibly correct towards $225.85 or lower before another push higher resumes. Do not like selling it in any pullback as impulse from January-2025 low looks incomplete.
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BlackRock (BLK) Enters Key Buying Zone below $1000
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By EWF AyoubMarch 17, 2026 · 2 min read
We previously mapped BlackRock‘s (NYSE: BLK) bullish weekly path. We also hinted at a potential dip below $1000. Today, we continue our analysis with the Elliott Wave structure of the current correction. This update highlights the next high-probability buying opportunity emerging for the stock.
Elliott Wave Analysis
BlackRock completed an impulsive five-wave advance from its 2022 low. Wave I peaked at $1,219.90 in October 2025. Since then, the stock has shown three swings down. This decline is unfolding as a zigzag structure.
BLK already dipped below $1,000. It now enters our Blue Box buying zone at $951 – $808. This extreme high-frequency area should attract buyers. Therefore, the market will likely attempt a bullish reversal. At minimum, a three-wave bounce should occur.
The stock maintains a weekly bullish sequence after breaking to new highs. Consequently, investors should view this correction as a buying opportunity. Entries will form as 3, 7, or 11-swing patterns.
BlackRock (BLK) Weekly Chart 3.17.2026
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Conclusion
BlackRock’s larger-degree bullish cycle remains firmly intact. Therefore, investors should continue targeting buying opportunities within weekly and daily pullbacks. Utilize our Elliott Wave strategy for precise entry timing. Specifically, establish positions after a 3, 7, or 11-swing correction completes. Additionally, our proprietary Blue Box system highlights high-probability zones with pinpoint accuracy. As a result, this disciplined method gives traders the clarity and confidence to catch the next bullish leg.

BlackRock (BLK) Enters Key Buying Zone below $1000
We previously mapped BlackRock‘s (NYSE: BLK) bullish weekly path. We also hinted at a potential dip below $1000. Today, we continue our analysis with the Elliott Wave structure of the current correction. This update highlights the next high-probability buying opportunity emerging for the stock.
Elliott Wave Analysis
BlackRock completed an impulsive five-wave advance from its 2022 low. Wave I peaked at $1,219.90 in October 2025. Since then, the stock has shown three swings down. This decline is unfolding as a zigzag structure.
BLK already dipped below $1,000. It now enters our Blue Box buying zone at $951 – $808. This extreme high-frequency area should attract buyers. Therefore, the market will likely attempt a bullish reversal. At minimum, a three-wave bounce should occur.
The stock maintains a weekly bullish sequence after breaking to new highs. Consequently, investors should view this correction as a buying opportunity. Entries will form as 3, 7, or 11-swing patterns.
BlackRock (BLK) Weekly Chart 3.17.2026

Conclusion

BlackRock’s larger-degree bullish cycle remains firmly intact. Therefore, investors should continue targeting buying opportunities within weekly and daily pullbacks. Utilize our Elliott Wave strategy for precise entry timing. Specifically, establish positions after a 3, 7, or 11-swing correction completes. Additionally, our proprietary Blue Box system highlights high-probability zones with pinpoint accuracy. As a result, this disciplined method gives traders the clarity and confidence to catch the next bullish leg.

Uranium Miners (URA) Pullback in Corrective Structure

The Global X Uranium ETF (URA) offers investors diversified exposure to companies engaged in uranium mining and nuclear component production, making it a key vehicle for those looking to participate in the nuclear energy transition. In this article, we will explore the long term technical outlook using Elliott Wave.
URA Elliott Wave Chart Monthly Chart


The monthly Elliott Wave chart of Uranium Miners ETF (URA) above shows that it has ended wave ((II)) grand super cycle degree at $6.95. It has started a new bullish leg in wave ((3)) with internal subdivision as a 5 waves impulse. Up from wave ((II)), wave I ended at $31.6 and wave II ended at $17.65. The ETF then nested higher with wave ((1)) ended at $33.66 and wave ((2)) ended at $19.5. While pivot at $6.95 low stays intact, expect pullback to find buyers in 3 or 7 swing for further upside.
URA Daily Elliott Wave Chart


The daily chart of the Uranium ETF shows that the rally from the wave ((2)) low on April 7, 2025, concluded with wave (1) at $62.28, forming a five‑wave diagonal. The current pullback in wave (2) is unfolding as a seven‑swing corrective structure, commonly referred to as a double three. From the wave (1) peak, wave W ended at $49.11, followed by a rally in wave X to $56.66. Wave Y is now in progress, with a 100%–161.8% Fibonacci extension target at $35.11–$43.11 (blue box area). Buyers are expected to emerge from this zone, setting the stage for renewed upside momentum.

Elliott Wave Perspective: Nvidia’s Range Bound Action Tilts Bearish

Nvidia (NVDA) has completed its cycle from the April 2025 low, and the stock is now entering a larger corrective phase. The correction is unfolding as a double three Elliott Wave structure, which often signals a complex retracement rather than a simple decline. From the all‑time high on October 29, 2025 at $212.19, wave (W) finished at $169.55. The subsequent rally in wave (X) reached $203.62, as shown in the 45‑minute chart.

Wave (Y) lower is now in progress, subdividing into a zigzag Elliott Wave structure. From the termination of wave (X), wave A ended at $173.11. The rally in wave B is developing as another zigzag, with wave ((a)) completing at $188.88. A short pullback in wave ((b)) is expected, followed by another leg higher in wave ((c)) to complete wave B.

As long as the pivot at $203.62 remains intact, Nvidia is positioned to resume its correction against the April 2025 low. The potential target for wave (Y) lies within the 100%–161.8% Fibonacci extension of wave (W). This zone, spanning $127.7 to $154.2, represents a critical area where buyers may emerge to stabilize price action. Traders should monitor the development of wave B closely, since its completion will likely set the stage for the next leg lower. The Fibonacci extension zone provides a logical area for potential support.

Nvidia (NVDA) 45-Minute Elliott Wave Chart

Attached Image (click to enlarge)

NVDA Elliott Wave Video:


Source: https://elliottwave-forecast.com/new...tilts-bearish/

Bajaj Finance: Big Buying Opportunity Ahead
The recent price action in Bajaj Finance Limited indicates a classic Elliott Wave structure unfolding on the weekly chart. After completing a strong five-wave impulsive rally forming Wave (I) at ₹1102.50, the stock has now entered a corrective phase, labeled as Wave (II).
Current Trend: Short-Term Weakness, Long-Term Strength
Following the peak at ₹1102.50, Bajaj Finance has started to move lower as part of this broader correction. In the near term, the stock is expected to decline slightly further toward the ₹827 level. This move would complete three equal swings within Wave W, a common corrective pattern in Elliott Wave analysis. However, this is not the end of the correction. After reaching the ₹827 zone, a temporary bounce is likely before the stock resumes its downward move in the next leg of Wave (II).
The broader Wave (II) correction is expected to extend deeper into the ₹681–₹551 range. This zone is technically significant because it represents a 38.2% to 50% Fibonacci retracement of the entire Wave (I) rally. Such retracement levels are commonly seen in strong trending stocks before the next major upward move begins.


What This Means for Investors
Despite the ongoing correction, the overall structure of Bajaj Finance Limited remains bullish. Wave (II) is typically followed by Wave (III), which is often the strongest and most explosive phase in an Elliott Wave cycle.
The key takeaway here is patience. Short-term downside should not be mistaken for a trend reversal. Instead, it may present a strategic accumulation opportunity for long-term investors.
Conclusion
Bajaj Finance is currently undergoing a healthy correction after a strong rally. With downside targets between ₹681 and ₹551, investors should watch for signs of reversal in this zone. Once Wave (II) completes, the next bullish phase could drive the stock to new highs, reinforcing its long-term growth potential.

Elliott Wave Perspective: Nvidia’s Range Bound Action Tilts Bearish

Nvidia (NVDA) has completed its cycle from the April 2025 low, and the stock is now entering a larger corrective phase. The correction is unfolding as a double three Elliott Wave structure, which often signals a complex retracement rather than a simple decline. From the all‑time high on October 29, 2025 at $212.19, wave (W) finished at $169.55. The subsequent rally in wave (X) reached $203.62, as shown in the 45‑minute chart.
Wave (Y) lower is now in progress, subdividing into a zigzag Elliott Wave structure. From the termination of wave (X), wave A ended at $173.11. The rally in wave B is developing as another zigzag, with wave ((a)) completing at $188.88. A short pullback in wave ((b)) is expected, followed by another leg higher in wave ((c)) to complete wave B.
As long as the pivot at $203.62 remains intact, Nvidia is positioned to resume its correction against the April 2025 low. The potential target for wave (Y) lies within the 100%–161.8% Fibonacci extension of wave (W). This zone, spanning $127.7 to $154.2, represents a critical area where buyers may emerge to stabilize price action. Traders should monitor the development of wave B closely, since its completion will likely set the stage for the next leg lower. The Fibonacci extension zone provides a logical area for potential support.
Nvidia (NVDA) 45-Minute Elliott Wave Chart


NVDA Elliott Wave Video:

SPX Elliott Wave Chart: Larger Decline Resumes

The S&P 500 (SPX) continues to correct the cycle that began from the April 7, 2025 low. The internal subdivision of this correction is unfolding as a double three Elliott Wave structure, which reflects a complex corrective pattern rather than a simple decline. From the January 28, 2026 peak, wave (W) concluded at 6636.04, as illustrated in the 45‑minute chart. Within wave (W), the internal subdivision itself developed as another double three of lesser degree. In this sequence, wave W ended at 6775.5, wave X at 6952.51, and wave Y at 6636.04. This completed wave (W) at the higher degree.

Following this, wave (X) produced a corrective rally that terminated at 6884.9. The index has since resumed its downward trajectory in wave (Y). From the peak of wave (X), wave ((a)) ended at 6623.92, while wave ((b)) rallied to 6754.3. The near‑term outlook suggests that as long as the pivot at 6844.92 remains intact, rallies are expected to fail in either three or seven swings, leading to further downside pressure. This aligns with the broader corrective structure and reinforces the bearish bias.

The potential target for the decline is measured using the 100% to 161.8% Fibonacci extension of wave (W). This extension projects a zone between 6247 and 6475. Within this area, buyers may emerge, offering the possibility of renewed upside momentum. Thus, while the short‑term path favors weakness, the medium‑term view anticipates that the correction could eventually provide a base for another rally once the projected support zone is tested.

S&P 500 (SPX) 45-Minute Elliott Wave Chart

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SPX Elliott Wave Video:


Source: https://elliottwave-forecast.com/new...cline-resumes/

SPX Elliott Wave Chart: Larger Decline Resumes

The S&P 500 (SPX) continues to correct the cycle that began from the April 7, 2025 low. The internal subdivision of this correction is unfolding as a double three Elliott Wave structure, which reflects a complex corrective pattern rather than a simple decline. From the January 28, 2026 peak, wave (W) concluded at 6636.04, as illustrated in the 45‑minute chart. Within wave (W), the internal subdivision itself developed as another double three of lesser degree. In this sequence, wave W ended at 6775.5, wave X at 6952.51, and wave Y at 6636.04. This completed wave (W) at the higher degree.
Following this, wave (X) produced a corrective rally that terminated at 6884.9. The index has since resumed its downward trajectory in wave (Y). From the peak of wave (X), wave ((a)) ended at 6623.92, while wave ((b)) rallied to 6754.3. The near‑term outlook suggests that as long as the pivot at 6844.92 remains intact, rallies are expected to fail in either three or seven swings, leading to further downside pressure. This aligns with the broader corrective structure and reinforces the bearish bias.
The potential target for the decline is measured using the 100% to 161.8% Fibonacci extension of wave (W). This extension projects a zone between 6247 and 6475. Within this area, buyers may emerge, offering the possibility of renewed upside momentum. Thus, while the short‑term path favors weakness, the medium‑term view anticipates that the correction could eventually provide a base for another rally once the projected support zone is tested.
S&P 500 (SPX) 45-Minute Elliott Wave Chart


SPX Elliott Wave Video:

Royal Gold Inc (NASDAQ: RGLD), Forecasting Gold path higher into $6000.00
Royal Gold Inc. (NASDAQ: RGLD) is a leading precious metals company that specializes in royalty and streaming financing within the mining sector. Founded in 1981 and headquartered in Denver, Colorado, the company does not operate mines directly. Instead, it provides upfront capital to mining companies in exchange for the right to receive a percentage of the revenue (royalties). Alternatively, it can purchase metal at a fixed, discounted price (streams). This business model allows Royal Gold to benefit from rising gold prices. At the same time, it can minimize the operational risks typically associated with mining activities, such as cost overruns and production disruptions.
The long-term price chart of Royal Gold Inc. (RGLD) illustrates a strong bullish trend characterized by a series of impulsive and corrective waves, consistent with Elliott Wave theory. From the early 2000s to 2026, the stock demonstrates a clear upward trajectory, with major impulsive phases (labeled I, III, and the current developing sequence) reflecting periods of strong appreciation. Corrective phases (such as wave II and intermediate ABC structures) indicate temporary pullbacks driven by broader market conditions or gold price fluctuations. Notably, the most recent price action shows an “incomplete bullish sequence,” suggesting that the current upward trend may continue. This reinforces the idea that RGLD behaves as a leveraged proxy for gold, where sustained increases in gold prices tend to amplify gains in the company’s stock, albeit with intermittent corrections influenced by equity market dynamics and company-specific factors. Please check the chart below.
Royal Gold (RGLD) Monthly Elliott Wave Chart



The daily chart of Royal Gold Inc. (RGLD) offers a refined perspective on the prevailing market structure and underscores the presence of a corrective phase within a broader bullish trend. Following the completion of a strong impulsive rally to the upside, labeled as wave (3), the stock has transitioned into a corrective sequence identified as wave (4). This correction unfolds through an A–B–C structure, with prices currently moving lower toward a defined support region highlighted by the blue box.
The blue box represents a high-probability demand zone, derived from Fibonacci retracement and extension levels, approximately between 251 and 218 USD. Within Elliott Wave analysis, wave (4) corrections frequently retrace a portion of wave (3) before the dominant trend resumes. This zone is therefore regarded as a potential reversal area, where renewed buying interest is expected to emerge.
The importance of this support region extends beyond RGLD itself. The company’s performance is closely correlated with gold (XAUUSD). This means stabilization and a bullish reaction from this area would suggest continued strength in underlying fundamentals, particularly gold prices. If RGLD finds support and resumes its upward trajectory from the blue box, it reinforces expectations of sustained momentum in gold.
Short-term volatility remains possible within the blue box. A temporary bounce followed by a final dip toward point C would be consistent with corrective wave behavior. Once this sequence concludes, the next impulsive advance, wave (5), is anticipated to drive prices higher, potentially surpassing prior peaks. Such a move in RGLD would likely coincide with a broader upward trend in gold.
In conclusion, the blue box functions as a critical technical support zone. A bullish response from this area would confirm the continuation of RGLD’s upward trend and simultaneously strengthen the outlook for gold, given the strong linkage between the company’s trajectory and the commodity’s value. Please review the chart below.
Royal Gold (RGLD) Daily Elliott Wave Chart


The combined quarterly chart of gold (XAUUSD) and Royal Gold Inc. (RGLD) provides strong visual evidence of a positive long-term correlation between the two assets. Over multiple decades, both series exhibit a similar directional trend, particularly during major bullish cycles. For instance, during periods of rising gold prices—such as the 2000–2011 bull market and the more recent uptrend into 2025—RGLD’s stock price also increases significantly. This reflects the company’s direct exposure to gold revenues through its royalty and streaming business model.
However, the chart also highlights that the correlation is not perfectly linear. RGLD (blue line) often shows greater volatility and sharper price swings compared to gold (red line). In several periods, the stock either outperforms or underperforms gold, indicating a leveraged response. This is typical of gold-related equities, where operational leverage, investor sentiment, and equity market conditions amplify movements relative to the underlying commodity.
Notably, in the most recent period, gold has experienced a very strong upward acceleration. The yellow metal reaches new highs, while RGLD has also risen but at a comparatively slower pace. This slight divergence suggests that, although gold remains the primary driver, stock-specific factors—such as market expectations, capital allocation, or temporary corrections (as seen in the daily chart)—can cause short-term deviations. Here is the Quarterly of Royal Gold Inc and Gold, showing the strong correclation.
Overlay of Royal Gold and XAUUSD (Spot Gold)

Overall, the chart confirms that RGLD and gold share a strong positive correlation over the long term, with RGLD acting as a leveraged proxy for gold prices. When gold enters sustained bullish phases, RGLD tends to follow and often magnify those movements, reinforcing the fundamental link between the company’s performance and the value of gold. Daily chart showing Royal Gold Inc and Gold getting closer to a turn higher.

In conclusion, both Royal Gold Inc. (RGLD) and gold (XAUUSD) appear to be undergoing a wave (4) corrective phase within a broader bullish cycle. The identification of a high-frequency “Blue Box” support zone in RGLD highlights a statistically significant area. This is the area where corrective structures—typically unfolding in 3, 7, or 11 swings—tend to terminate. According to Elliott Wave Forecast methodology, these zones represent regions where institutional participants often re-enter the market.
Royal Gold (RGLD) Elliott Wave Video

Dow Futures (YM): Tracking a Double Three Elliott Wave Pattern

Dow Futures (YM) is correcting the larger degree cycle that began from the April 2025 low. The current decline is unfolding as a double three Elliott Wave structure, which highlights a complex corrective phase rather than a simple retracement. From the all-time high on February 10, 2026 at 50,611, wave W finished at 46,333, while the subsequent rally in wave X reached 48,275, as shown in the one-hour chart. The ongoing wave Y is progressing with internal subdivision that takes the form of a zigzag, consistent with the broader corrective framework.

From the peak of wave X, wave ((a)) dropped to 45,453, followed by wave ((b)) which appears complete at 47,210. In the near term, as long as rallies remain capped below 47,210 and more importantly below 48,275, the expectation is for the Index to continue extending lower. This outlook aligns with Fibonacci extension measurements taken from the February 10, 2026 high. The projected downside target falls within the 100% to 161.8% extension range, corresponding to 41,268 – 43,925. This zone is significant because it represents an area where buyers may emerge, potentially supporting renewed upside momentum once the corrective sequence has matured. The structure therefore suggests that while short-term weakness dominates, the broader cycle retains the potential for recovery once the corrective objectives are satisfied

Dow Futures (YM) 60-Minute Elliott Wave Chart

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Source: https://elliottwave-forecast.com/new...-wave-pattern/
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