Wednesday, April 2, 2025

If This Pattern Confirms, Elliott Wave Clues Point to a Rally

Join me at 9:15 a.m. ET for “Morning Monster”!
 
   
     
Trump’s Tariff Day Is HERE
 
 
First, don’t miss today’s Daily Chart Setup trade idea down lower in this newsletter.

Tariff day today with Trump speaking late in the day today. Will it be a buy-the-news event, or do we start the next leg down?

Come join me as we dive in and see what’s moving! 

Plus, as always, we have stocks popping and dropping so come find out what is moving this morning as I look for stocks and do some live premarket analysis on SPX, SPY, NDX, QQQ, Russell, IWM and other stocks that are potential plays for the day. 
 
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If This Pattern Confirms, Elliott Wave Clues Point to a Rally

After what looked like a nasty reversal, I’ve been digging into the structure of the recent pullback — and what I’m seeing in the Elliott Wave count might be the most constructive setup we’ve had since mid-December.

We may be staring at a completed ABC correction.

To be clear, nothing is confirmed until we get five clean waves up off the recent low. That’s the pattern to watch. If this thing starts pushing in a clear 1-2-3-4-5 structure — especially if it gets back above the prior high — then this entire move lower likely wraps up a corrective phase that’s already in the rearview.
 
 
The Big Picture Is Still Intact

This could be your classic expanded flat or complex ABC. We had a sharp move lower that scared a lot of folks — but structurally, it’s behaving like a B wave that exceeded the zero point, followed by a flush into a textbook C.

We’ve seen similar setups play out before. The Nasdaq 100 (QQQ), for example, displayed the same pattern with a clear three-wave bounce into a lower high, then a C wave down. Futures charts line up with that interpretation too.

If this is what it looks like — a completed correction — then we’re staring at a potential five-wave advance that targets the 6,600 to 6,800 range on the S&P 500 later this year. That would align with the timing I've had in mind since last fall. And after that? 

I’ll be watching for a much larger correction.

Why It Matters Now

The market has been choppy and frustrating. We’ve gone virtually nowhere for nine months. But that kind of sideways action often precedes an explosive move. If this wave count confirms, it puts us back on track for the next leg higher — a leg that could unfold a lot faster than most are expecting.

If we don’t get the five-wave follow-through and instead roll over here, then we’re likely looking at an extended correction, or a different pattern altogether. But right now, the structure leans bullish — and that’s not something I’ve been able to say with conviction for a while.

This is a moment to stay sharp. The next couple of sessions could tell us whether this market is ready to rip — or if we’re still stuck in the mud. Either way, the wave structure is giving us a playbook.

Now be sure to join me live at 9:15 a.m. ET for “Morning Monster,” my market-open livestream on YouTube!
 
 
‘Morning Monster’ Is Starting NOW!
I’m also live at 5 p.m. ET on Tuesdays for “30 Minutes of Awesome” — bring your ticker and I’ll analyze it in real time!

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See How I Banked a 100% Win Rate on 84 Trades!
 
 
Thanks to a specific glitch I discovered in a Wall Street pricing model, we can now target income multiple times a month…

Next up, I’m targeting what could be the 85th win on one overlooked ticker…
 
 
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Today’s Daily Chart Setup: Credit Acceptance (CACC)  
 
 
 

This idea came directly from my Daily Chart Setup that automatically signals potential plays. 
 
• CACC is a new potential entry. Target: 575.49 Stop below: 452.0
 
• CACC has a historical win rate of 79.17%
 
• CACC has a profit factor of 1.725
 
• CACC trades last 29 trading days on average over 24 trades since 1992.
 
See the secret behind these signals here!  

This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk. Always remember that past performance is not indicative of future results.

How the Daily Chart Setup Works

Here’s a more detailed description of how the pattern triggers:

1. The price breaks upward through the orange Market Roadmap line. 

2. Then the price goes up and down while staying above the line. Eventually, it comes down to touch the line again — this could take days, weeks or even months. 

3. Once it touches the line and starts moving back up, that signals an entry. 

I use Fibonacci levels for for profit targets and stop losses, and these two tools combined have helped me achieve a 77% win rate over the past six-plus years!

You can grab my Market Roadmap Indicator here for just $5 — less than a cup of coffee at most places!
Jeffry Turnmire
Jeffry Turnmire Trading

I host my “Morning Monster” livestream at 9:15 a.m. ET each weekday on YouTube, and then “30 Minutes of Awesome” at 5 p.m. ET each Tuesday!

Please check out my channel and hit that Subscribe button!

I’m just a regular dude in Knoxville, Tennessee: a husband, father, civil engineer, urban farmer, maker and trader.

I've been at this trading thing with real money for 20-plus years, and started paper trading over 35 years ago. I have a knack for making some epic predictions that just may very well come true. Why share them? Because I like helping other people — it's the Eagle Scout in me. 

*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk. 
   
 
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