JPMorgan Equity Premium Income ETF – JEPI (1D) Elliott Wave Analysis

JEPI ETF Daily Chart Analysis

JEPI Elliott Wave Technical Analysis

Function: Major Trend (Minor Degree, Grey)

Mode: Corrective

Structure: Triangle

Position: Wave [c] of C

Direction: Decline

JEPI ETF Analysis Overview

• The bearish trend remains in force, approaching the completion of wave C within the triangle pattern.
• The $56.71 low of wave [a] has been breached, confirming the zigzag structure.
• Signs of wave extension in wave [c] indicate that a complex zigzag may not be forming.
• Once wave [c] completes, a rally is expected in the form of three corrective major waves to form wave [d].
• If wave C follows a WXY structure, the three corrective waves will be short-lived to form wave [x] of C.
• The guideline of wave equality is expected to be fulfilled at $55.60.

Invalidation Level: $59.73

JPMorgan Equity Premium Income ETF – JEPI (4H) Elliott Wave Analysis

JEPI ETF Hourly Chart Technical Analysis

Function: Major Trend (Minor Degree, Grey)

Mode: Impulsive

Structure: Impulse

Position: Wave iv of (iii) within [c] of C (Minor Degree)

Direction: Decline

JEPI ETF Analysis Overview

• The downtrend is expected to resume once wave iv pullback is complete.
• Wave iv is likely to terminate around $57.50.
• The next movement should be impulsive, pushing JEPI towards the $55.60 target.
• Any movement above the invalidation level suggests that the market is in wave [x] or that wave [c] is forming a more complex structure.

Invalidation Level: $57.83

Technical Analyst: Siinom

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Conclusion

• The decline in JEPI remains ongoing, and it is premature to conclude that wave C is near completion.
• Once wave C completes, a rally forming wave D is expected.
• Strict adherence to Elliott Wave rules and monitoring invalidation levels is crucial to avoid unnecessary losses.