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Dow futures bearish wave target points to 47,542 to 49,569 zone
The Elliott wave view says the break below wave (w) supports the start of the next leg lower, with the corrective sequence expected to fail if the 52,840 pivot is not reclaimed.
Action Forex outlines a short term Elliott Wave framework for Dow futures, saying the cycle from the August 5, 2026 high is still unfolding as a double three corrective structure.
According to the outlook, wave (w) is said to have finished at 51,609 and a rally in wave (x) ended at 52,840, after which the index resumed its decline and broke below the termination point of wave (w).
The outlet projects the downside target as the 100.0% to 161.8% Fibonacci extension of wave (w), which it places between 47,542 and 49,569, describing it as the ideal area for the current corrective sequence to complete.
Action Forex also says a corrective rally after the September 22, 2026 high is expected to stay capped below the 52,840 pivot, and that failures to clear that level would keep pressure on the index as sellers dominate.
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