Elliott Wave Weekly Outlook - SPX, NDX, DJI & IWM
๐งต Elliott Wave Weekly Outlook
1.) $S&P 500(.SPX)$ ๐
โ Above 6443 โ 5th wave targeting 6600โ6630 ๐ฏ
- Blow-off top potential to 6800โ6850 ๐
โ Below 6443 = projection fails
โ ๏ธ Daily close under 6393 = sell signal๐ โ 6300-6180
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2.) $NASDAQ 100(NDX)$ ๐
- Likely in a 4th wave triangle โ leaning bullish against 22,960 ๐
- Fridayโs 23,475 low should hold if $SPX extends. Warning if crossed โ ๏ธ
- Break above recent highs = 5th extension to 24,300โ24,750โ25,000 ๐ฏ
- Loss of 22,960 ๐= breakdown risk to FVG support (22,400โ21,600)
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3.) $Dow Jones(.DJI)$ ๐
- Bounced from Daily FVG support 45,273โ44,893 ๐
- Current count suggests a completed fractal flat correction โ
- Long bias this week with 46,500 as high probability target ๐ฏ
โ Invalidation = break below 44,550 (MT of 2nd impulse).
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4.) $iShares Russell 2000 ETF(IWM)$ ๐
- Hit 240 target from Weekly FVG bounce โ
- Structure = 5-3-5, already at 50% extension of first impulse โ ๏ธ
- Could consolidate or retrace โ but if $SPX/ $NDX extend, $IWM may follow straight to 245 ATH ๐ฏ
- Support = Daily FVG at 232โ226; โ MT break below 226 invalidates.
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5.) Summary ๐งต
- SPX while above 6443 โ 6600โ6630, blow-off to 6800โ6850 possible
- NDX triangle breakout to 24,300-25,500 aligns with SPX push
- DJI high probability 46,500 target
- IWM 240 target reached, may chase 245 ATH if majors extend
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