DOW Elliott Wave Analysis for Thursday 15/06/2023

Although the DOW looks bullish in the higher timeframe, we expect a pullback in the lower timeframe. In the 1 hour, we see 5 waves up and wave 5 is clearly ending with divergence compared to wave 3. If the divergence is not erased, we would expect a pullback. Traders can initiate a short (against the higher timeframe) or go long after the pullback (aligned with the higher timeframe).