S&P 500 ETF (SPY) advances with nested structure in wave (5)

The short-term Elliott Wave analysis for the S&P 500 ETF (SPY) shows a continuous bullish cycle that started at the April 2025 low, unfolding as a five-wave impulse structure. As displayed in the 30-minute chart, wave (4) of this impulse concluded at 646.17. The last leg, wave (5 ), is presently underway, identified by an internal five-wave structure with embedded neighborhoods. From wave (4 ), wave (( i)) peaked at 665.13, followed by a pullback in wave (( ii)) to 653.17. Wave (( iii)) then advanced to 665.83, with a subsequent dip in wave (( iv)) to 660.28. The last wave (( v)) reached 670.23, finishing wave 1 on a greater degree.

Consequently, the ETF remedied in wave 2, forming a zigzag Elliott Wave pattern that bottomed at 651.41. From wave 1’s peak, wave (( a)) decreased to 658.93, followed by a rally in wave (( b)) to 668.71. Wave (( c)) then dropped to 651.41, settling wave 2. The ETF has actually considering that resumed its upward trajectory in wave 3. From wave 2’s low, wave (( i)) reached 672.99, and wave (( ii)) dipped to 663.30. In the near term, expect a pullback finding assistance in a 3, 7, or 11 swing versus 646.17, setting the phase for additional advantage. This analysis recommends continued bullish momentum with distinct assistance levels directing the next relocations.

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