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Elliott Wave View: DAX Starting Correction

Short-term Elliott wave view in DAX suggests cycle from October 6, 2021 low has ended as an impulse Elliott Wave structure. Up from October 6, wave 1 ended at 15781 and pullback in wave 2 ended at 15495.51. The Index then extends higher in wave 3 towards 16104.13, dips in wave 4 ended at 15985.90, and final leg wave 5 ended at 16290.19. This completed wave (1) in higher degree.

The Index is now correcting cycle from October 6 low in larger degree 7 swing within wave (2). The first 3 swing is in progress as a zigzag from November 18 wave (1) high. Down from there, wave (i) ended at 16234.31 and rally in wave (ii) ended at 16282.87. Index then resumes lower in wave (iii) towards 16146.84, rally in wave (iv) ended at 16238.29, and final leg lower wave (v) of ((a)) ended at 16092.63. Index then corrected in wave ((b)) which ended at 16202.77. Wave ((c)) lower is in progress as another 5 waves. Down from wave ((b)), wave (i) ended at 16090.54 and rally in wave (ii) ended at 16175.05. Expect the Index to continue lower within wave ((c)) as far as rally fails below 16290.89.

DAX 15 minutes Elliott Wave chart

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