Elliott Wave analysis: SPY poised to extend higher in bullish sequence

Elliott Wave sequence in SPY (S&P 500 ETF) suggest bullish sequence in progress started from 4.07.2025 low. It expects two or few more highs to extend the impulse sequence from April-2025, while dips remain above 6.23.2025 low. SPY ended the daily corrective pullback in 3 swings at 480 low on 4.07.2025 low from February-2025 peak. Above there, it favors upside in bullish impulse sequence as broke above February-2025 high. Currently, it favors wave 3 of (1) & expect one more push higher from 7.16.2025 low in to 630.31 – 651.1 area before correcting in wave 4. In 4-hour, it placed 1 at 596.05 high, 2 at 573.26 low as shallow connector & extend higher in 3. Within 3, it placed ((i)) at 606.40 high, ((ii)) at 591.89 low, ((iii)) at 627.97 high & ((iv)) at 618.05 low.

In 1-hour above ((ii)) low of 591.89 low, it ended (i) at 605.96 high, (ii) at 603.17 low, (iii) at 626.87 high as extended move, (iv) at 620 low & (v) as ((iii)) at 627.97 high. Wave ((iv)) ended in 3 swing pullback as shallow connector slightly below 0.236 Fibonacci retracement of ((iii)). Within ((iii)), it ended (a) at 619.8 low, (b) at 624.12 high & (c) at 618.05 low on 7.16.2025 low (this week). Above there, it favors rally in ((v)) of 3 targeting in to 630.31 – 651.1 area before correcting in 4. Within ((v)), it placed (i) at 624.73 high, (ii) at 623.08 low & favors upside in (iii) of ((v)). We like to buy the pullback in clear 3, 7 or 11 swings correction at extreme area in 4 and later in (2) pullback, once finished (1) in 5 swings.

SPY – 45-Minute Elliott Wave technical chart

SPY Elliott Wave technical video