Elliott Wave analysis: SPY bullish cycle yet to complete

Elliott Wave Forecast Team ElliottWave-Forecast.com

The short‑term Elliott Wave view in the S&P 500 ETF (SPY) indicates that the instrument remains in an incomplete bullish sequence. This favors additional upside in the near term. The pullback to 749.90 marked the end of wave ((iv)), and the ETF has since advanced into wave ((v)). The rise from that level is forming a five‑wave diagonal. At present, only three swings higher have developed.

From the September 17 low, wave i concluded at 775.14. A corrective decline in wave ii then ended at 758.79. Wave iii pushed prices higher to 781.62, followed by a retracement in wave iv that finished at 770.43. This structure suggests one more leg higher is likely. That move should complete wave v of (i) within wave ((v)). Afterward, a larger three‑wave pullback is expected to correct the cycle from the September 17, 2026 low. Near term, the key pivot remains at 749.90. As long as this level holds, dips should locate support in either a three‑ or seven‑swing sequence.

S&P 500 ETF 60-minute Elliott Wave chart

SPY Elliott Wave [Video]

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Elliott Wave Forecast Team

ElliottWave-Forecast.com

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