In this technical blog, we will take a look at the past performance of SPY’s 1-hour Elliott Wave charts. We provide members at eliottwave forecasts. The rise from the low of November 21, 2025 is revealed as a driving structure. It also showed a higher high sequence suggesting that the ETF should see further bullish extension to complete the impulse sequence. Therefore, we advised members not to sell ETFs and to buy dips in 3, 7 or 11 swings in the blue box areas. We will explain the structure and expectations below:
SPY 1-Hour Elliott Wave Chart from 12.17.2025
Here is the 1-hour Elliott wave chart from the after-market update on 12.17.2025. In it, the short-term cycle from the bottom of 11.21.2025 in wave ((i)) ended as an impulse wave at the highest level at $691.24. From there, the ETF pulls back in wave ((ii)) to correct that cycle. The interior of this pullback unfolded as a zigzag Elliott wave structure with wave A ending at the low of $679.17. The rebound wave (b) ended at the high of $685.87. Then wave (c) managed to reach the blue box area at $673.73 – $649.45. From there, buyers are expected to emerge looking for the next stop higher or the minimum of the three-wave retracement.
SPY latest 1-hour Elliott wave chart from 12.30.2025
This is a 1-hour Elliott wave chart from the after-market update on 12.30.2025. The ETF shows a bullish reaction, immediately after finishing the correction inside the blue box area. Allowing members to create a risk-free position shortly after taking a long position in the blue box area. Since then, SPY has already made a new high targeting the $712.96-$722.81 area as a minimum before taking profits and the next pullback occurring in 3, 7 or 11 swings.
