Numbers 1 to 5 label the successive legs of the selected wave pattern. The last point can still move.
LSE · Market · Weekly analysis
XUEN Elliott Wave report
Xtrackers MSCI USA Energy UCITS ETF 1D
Current reading
The five-wave move is mature
The count describes a move that may be nearing its end. Watch for a confirmed reversal; maturity alone does not mean price has turned.
55/100 Setup score
100/100 Data quality
Mature / manage risk Setup status
A setup score is a measure of fit, not a probability or price forecast.
How to use this report
Start with price. Read the selected pattern and the weekly closing levels beside the chart. “Confirm” means a move supports that interpretation; it does not guarantee a return.
Compare the evidence. A wave count can disagree with the trend, momentum or sector. The report points out those differences before looking at timing.
Check the limits. Timing windows are estimates, the last swing can move, and historical outcomes vary. Open the rules and data notes for more detail.
01 · Price & key levels
The pattern and the prices to watch
7 readings are positive, 0 are negative and 0 are neutral. They describe current direction, not whether a mature move has finished.
The leading count changed 3 times across the last 9 checks. Keep the alternative interpretations in view.
Weekly price and wave pattern
Move across the chart to inspect a week. Turn on explanations for a guide to the marked points.
Weekly close30-week trendFair ValueConfirmationCount failureSelected pattern
The shaded area marks the selected pattern. Filled dots mark confirmed turns; the outlined dot is still forming. Prices use completed weeks; changing the chart range does not recalculate the count.
Reading the chart
Numbers 1 to 5 label the successive legs of the selected wave pattern. The last point can still move. A confirmed turn means price reversed far enough to establish that swing point. It does not confirm what price will do next.
The green line is the trend reference. Fair Value provides price context. Dashed confirmation and failure levels describe the selected count; they are not price targets.
Weekly chart values
| Week ending | Close | 30-week trend | Fair Value |
|---|---|---|---|
| 2023-09-22 | 43.33 | 40.07 | 30.90 |
| 2023-09-29 | 43.84 | 40.17 | 31.10 |
| 2023-10-06 | 41.20 | 40.21 | 31.27 |
| 2023-10-13 | 43.16 | 40.43 | 31.46 |
| 2023-10-20 | 43.78 | 40.66 | 31.66 |
| 2023-10-27 | 40.89 | 40.72 | 31.84 |
| 2023-11-03 | 41.89 | 40.75 | 32.03 |
| 2023-11-10 | 40.00 | 40.71 | 32.19 |
| 2023-11-17 | 40.65 | 40.72 | 32.35 |
| 2023-11-24 | 41.16 | 40.74 | 32.50 |
| 2023-12-01 | 41.29 | 40.84 | 32.65 |
| 2023-12-08 | 39.51 | 40.91 | 32.79 |
| 2023-12-15 | 40.42 | 40.99 | 32.94 |
| 2023-12-22 | 41.29 | 41.12 | 33.10 |
| 2023-12-29 | 40.82 | 41.22 | 33.25 |
| 2024-01-05 | 41.23 | 41.30 | 33.40 |
| 2024-01-12 | 39.90 | 41.35 | 33.53 |
| 2024-01-19 | 38.72 | 41.40 | 33.66 |
| 2024-01-26 | 40.44 | 41.45 | 33.81 |
| 2024-02-02 | 40.71 | 41.53 | 33.95 |
| 2024-02-09 | 40.50 | 41.57 | 34.09 |
| 2024-02-16 | 41.55 | 41.62 | 34.22 |
| 2024-02-23 | 41.56 | 41.64 | 34.36 |
| 2024-03-01 | 42.25 | 41.64 | 34.48 |
| 2024-03-08 | 42.45 | 41.62 | 34.60 |
| 2024-03-15 | 44.26 | 41.69 | 34.75 |
| 2024-03-22 | 44.98 | 41.79 | 34.89 |
| 2024-03-29 | 45.76 | 41.88 | 35.05 |
| 2024-04-05 | 47.51 | 41.98 | 35.22 |
| 2024-04-12 | 47.67 | 42.09 | 35.38 |
| 2024-04-19 | 46.20 | 42.19 | 35.55 |
| 2024-04-26 | 46.27 | 42.27 | 35.70 |
| 2024-05-03 | 44.63 | 42.38 | 35.84 |
| 2024-05-10 | 45.81 | 42.47 | 35.98 |
| 2024-05-17 | 45.89 | 42.54 | 36.13 |
| 2024-05-24 | 44.55 | 42.66 | 36.26 |
| 2024-05-31 | 44.61 | 42.75 | 36.39 |
| 2024-06-07 | 44.04 | 42.89 | 36.52 |
| 2024-06-14 | 42.91 | 42.96 | 36.64 |
| 2024-06-21 | 44.06 | 43.06 | 36.77 |
| 2024-06-28 | 44.96 | 43.18 | 36.90 |
| 2024-07-05 | 44.44 | 43.35 | 37.03 |
| 2024-07-12 | 44.50 | 43.48 | 37.17 |
| 2024-07-19 | 45.81 | 43.63 | 37.33 |
| 2024-07-26 | 45.05 | 43.77 | 37.48 |
| 2024-08-02 | 43.48 | 43.85 | 37.61 |
| 2024-08-09 | 44.14 | 43.99 | 37.75 |
| 2024-08-16 | 44.67 | 44.19 | 37.91 |
| 2024-08-23 | 44.46 | 44.32 | 38.05 |
| 2024-08-30 | 44.66 | 44.45 | 38.19 |
| 2024-09-06 | 42.56 | 44.52 | 38.33 |
| 2024-09-13 | 42.32 | 44.55 | 38.46 |
| 2024-09-20 | 43.62 | 44.62 | 38.59 |
| 2024-09-27 | 43.29 | 44.65 | 38.71 |
| 2024-10-04 | 46.29 | 44.78 | 38.85 |
| 2024-10-11 | 46.28 | 44.85 | 38.98 |
| 2024-10-18 | 44.80 | 44.84 | 39.10 |
| 2024-10-25 | 45.09 | 44.82 | 39.22 |
| 2024-11-01 | 44.34 | 44.71 | 39.33 |
| 2024-11-08 | 46.65 | 44.68 | 39.47 |
| 2024-11-15 | 47.36 | 44.72 | 39.61 |
| 2024-11-22 | 48.73 | 44.80 | 39.77 |
| 2024-11-29 | 47.65 | 44.90 | 39.91 |
| 2024-12-06 | 45.67 | 44.90 | 40.04 |
| 2024-12-13 | 44.66 | 44.85 | 40.17 |
| 2024-12-20 | 42.19 | 44.78 | 40.28 |
| 2024-12-27 | 42.85 | 44.72 | 40.39 |
| 2025-01-03 | 44.02 | 44.72 | 40.50 |
| 2025-01-10 | 44.40 | 44.77 | 40.59 |
| 2025-01-17 | 47.35 | 44.88 | 40.71 |
| 2025-01-24 | 46.07 | 44.91 | 40.82 |
| 2025-01-31 | 44.81 | 44.93 | 40.90 |
| 2025-02-07 | 44.66 | 44.93 | 40.98 |
| 2025-02-14 | 45.57 | 44.92 | 41.08 |
| 2025-02-21 | 46.36 | 44.97 | 41.17 |
| 2025-02-28 | 45.22 | 45.03 | 41.25 |
| 2025-03-07 | 43.79 | 45.01 | 41.30 |
| 2025-03-14 | 44.99 | 45.02 | 41.38 |
| 2025-03-21 | 46.57 | 45.09 | 41.44 |
| 2025-03-28 | 46.85 | 45.17 | 41.52 |
| 2025-04-04 | 41.29 | 45.12 | 41.55 |
| 2025-04-11 | 39.00 | 45.01 | 41.57 |
| 2025-04-18 | 42.05 | 44.96 | 41.61 |
| 2025-04-25 | 42.13 | 44.92 | 41.65 |
| 2025-05-02 | 41.60 | 44.77 | 41.68 |
| 2025-05-09 | 42.11 | 44.63 | 41.71 |
| 2025-05-16 | 43.21 | 44.58 | 41.75 |
| 2025-05-23 | 41.53 | 44.46 | 41.76 |
| 2025-05-30 | 41.60 | 44.37 | 41.77 |
| 2025-06-06 | 42.43 | 44.22 | 41.78 |
| 2025-06-13 | 44.68 | 44.13 | 41.85 |
| 2025-06-20 | 45.22 | 44.02 | 41.92 |
| 2025-06-27 | 43.78 | 43.89 | 41.99 |
| 2025-07-04 | 44.38 | 43.85 | 42.07 |
| 2025-07-11 | 45.74 | 43.88 | 42.16 |
| 2025-07-18 | 44.46 | 43.96 | 42.23 |
| 2025-07-25 | 44.60 | 44.02 | 42.28 |
| 2025-08-01 | 43.99 | 44.02 | 42.35 |
| 2025-08-08 | 43.56 | 43.99 | 42.40 |
| 2025-08-15 | 44.02 | 43.88 | 42.44 |
| 2025-08-22 | 45.09 | 43.84 | 42.48 |
| 2025-08-29 | 46.24 | 43.89 | 42.54 |
| 2025-09-05 | 44.65 | 43.89 | 42.59 |
| 2025-09-12 | 45.69 | 43.89 | 42.64 |
| 2025-09-19 | 45.33 | 43.86 | 42.72 |
| 2025-09-26 | 47.68 | 43.94 | 42.80 |
| 2025-10-03 | 45.94 | 44.01 | 42.84 |
| 2025-10-10 | 44.75 | 44.01 | 42.88 |
| 2025-10-17 | 44.33 | 43.93 | 42.91 |
| 2025-10-24 | 45.45 | 43.89 | 42.93 |
| 2025-10-31 | 45.23 | 44.02 | 42.95 |
| 2025-11-07 | 45.82 | 44.24 | 42.96 |
| 2025-11-14 | 47.20 | 44.42 | 42.99 |
| 2025-11-21 | 45.78 | 44.54 | 43.00 |
| 2025-11-28 | 46.55 | 44.70 | 43.03 |
| 2025-12-05 | 47.63 | 44.89 | 43.08 |
| 2025-12-12 | 46.61 | 45.00 | 43.12 |
| 2025-12-19 | 45.57 | 45.13 | 43.16 |
| 2025-12-26 | 46.19 | 45.29 | 43.19 |
| 2026-01-02 | 46.92 | 45.44 | 43.23 |
| 2026-01-09 | 48.36 | 45.56 | 43.26 |
| 2026-01-16 | 49.63 | 45.71 | 43.31 |
| 2026-01-23 | 51.29 | 45.96 | 43.36 |
| 2026-01-30 | 52.69 | 46.23 | 43.43 |
| 2026-02-06 | 55.19 | 46.55 | 43.52 |
| 2026-02-13 | 56.55 | 46.95 | 43.62 |
| 2026-02-20 | 56.51 | 47.35 | 43.73 |
| 2026-02-27 | 57.19 | 47.79 | 43.83 |
| 2026-03-06 | 58.72 | 48.29 | 43.96 |
| 2026-03-13 | 59.72 | 48.82 | 44.10 |
| 2026-03-20 | 62.54 | 49.40 | 44.27 |
| 2026-03-27 | 65.54 | 50.04 | 44.44 |
| 2026-04-03 | 61.81 | 50.61 | 44.57 |
| 2026-04-10 | 59.28 | 51.07 | 44.69 |
| 2026-04-17 | 56.45 | 51.44 | 44.79 |
| 2026-04-24 | 58.69 | 51.80 | 44.91 |
| 2026-05-01 | 61.17 | 52.31 | 45.05 |
| 2026-05-08 | 58.04 | 52.75 | 45.18 |
| 2026-05-15 | 61.14 | 53.31 | 45.33 |
| 2026-05-22 | 61.23 | 53.84 | 45.49 |
| 2026-05-29 | 58.06 | 54.27 | 45.62 |
| 2026-06-05 | 60.33 | 54.75 | 45.75 |
| 2026-06-12 | 59.92 | 55.18 | 45.89 |
| 2026-06-19 | 55.89 | 55.51 | 46.01 |
| 2026-06-26 | 56.17 | 55.83 | 46.12 |
| 2026-07-03 | 55.29 | 56.09 | 46.23 |
| 2026-07-10 | 56.96 | 56.43 | 46.34 |
| 2026-07-17 | 59.54 | 56.90 | 46.47 |
| 2026-07-24 | 62.03 | 57.43 | 46.60 |
| 2026-07-31 | 61.02 | 57.90 | 46.72 |
| 2026-08-07 | 60.01 | 58.29 | 46.83 |
| 2026-08-14 | 64.09 | 58.77 | 46.97 |
| 2026-08-21 | 65.90 | 59.26 | 47.13 |
| 2026-08-28 | 64.46 | 59.65 | 47.26 |
| 2026-09-04 | 66.26 | 60.02 | 47.40 |
| 2026-09-11 | 67.25 | 60.37 | 47.55 |
4-week return
4.9%
13-week return
12.2%
26-week return
12.6%
52-week return
47.2%
From 52-week high
-1.9%
26-week volatility
28.7%
02 · Wave count
How the wave count fits
The chart uses a 8.3% closing-price reversal threshold. Filled markers are confirmed pivots; the outlined final marker is still forming.
Scenario comparison
Compare the possible patterns
Leading wave count
84% evidence weight
Five-wave advance mature
The count below meets the required wave rules. The details show which swings and proportions support it. A valid pattern is still an interpretation of past price moves.
Confirm above 67.25
Fails below 55.29
Count stability Moderate · 52/100
Wave rules and proportions
PassWave 2 protects the Wave 1 originOrigin 36.53; Wave 2 39.00.
PassWave 3 exceeds Wave 1Wave 1 48.73; Wave 3 65.54.
PassWave 4 does not overlap Wave 1Wave 1 boundary 48.73; Wave 4 55.29.
PassWave 3 is not the shortest motive waveMotive lengths: 12.20, 26.55, 11.96.
PassWave 5 makes motive progressWave 3 65.54; Wave 5 67.25.
GuidelineWave 2 retracement is proportionateRetraced 80% of Wave 1.
GuidelineWave 3 extension is plausibleWave 3 is 2.18× Wave 1.
GuidelineWave 4 retracement is proportionateRetraced 39% of Wave 3.
GuidelineWaves 2 and 4 show temporal alternationWave 2 lasted 20w; Wave 4 lasted 14w.
Strategic degree uses a 13.3% weekly closing-price reversal threshold.
Primary degree uses a 8.3% weekly closing-price reversal threshold.
Tactical degree uses a 5.8% weekly closing-price reversal threshold.
10 weeks · Forming
Pivot from 2026-07-03
Price is above prior confirmed highs
Price is 11.4% from trend
Price is 41.4% from Fair Value
44.33 low · 68.53 high
03 · Supporting evidence
100% directional agreement
Where the evidence agrees or disagrees
7 readings are positive, 0 are negative and 0 are neutral. They describe current direction, not whether a mature move has finished.
Check whether the move is losing support.
Trend
11.4% above trend
Price is holding above its 30-week trend.
Cycle pressure
Rising
The medium-term pressure curve is turning higher.
Cycle alignment
Rising Stack
Several cycle lengths are improving together.
Relative strength
+17.5
Outperforming its benchmark
Market activity
+58.7
Participation is supportive
Market dynamics
+0.8
Price and volume behaviour is supportive
30-week momentum
+18.9
Medium-term momentum is positive
7 constructive, 0 weak and 0 neutral measures.
Agreement describes direction among the readings. It does not necessarily support the selected wave count.Market activity
Whether participation is supporting the move.
Participation is supportive.
Relative strength
Performance against the market benchmark.
Outperforming its benchmark.
30-week momentum
The pace of the medium-term price move.
Medium-term momentum is positive.
Market dynamics
A separate scale prevents this lower-range measure being hidden by relative strength.
Price and volume behaviour is supportive.
04 · Cycle timing
What cycle timing adds
Cycle estimates help describe timing. They do not set a date for the next price turn.
Cycle pressure is rising. That supports the recent upswing, but it does not establish how long it will last.
Cycle repeat scores range from 0 to 24/100. Low scores mean the past rhythm is irregular, so the projected weeks deserve less weight.
Current medium-term pressure direction
75/100 constructive · 25/100 risk
Timing estimate, not a dated forecast
Timing estimate, not a dated forecast
Cycle pressure
Above zero is positive pressure; direction matters more than the absolute number.
Shorter and longer cycles
The thick line is the blended reading; thinner lines show 20, 40 and 80-week components.
An observed cycle is the repeat found in past prices. The repeat score describes how clearly it appears. FLD is a shifted price reference used to check a turn. Low timing scores can coexist with a positive price-cross check.
Typical / observed cycle10w / 8w
Current phaseCresting
Repeat score0/100
Price-cross check (FLD)Crossed Up
Since last trough5w
Possible next low1–5w
Typical / observed cycle20w / 25w
Current phaseRising
Repeat score17/100
Price-cross check (FLD)Crossed Up
Since last trough9w
Possible next low11–21w
Typical / observed cycle40w / 30w
Current phaseRising
Repeat score24/100
Price-cross check (FLD)Crossed Up
Since last trough8w
Possible next low15–29w
Typical / observed cycle80w / 93w
Current phaseRising
Repeat score0/100
Price-cross check (FLD)Crossed Up
Since last trough62w
Possible next low13–49w
05 · Risk
Risk behind the price move
Wave structure is easier to judge when drawdown, volatility and participation are visible beside it.
Risk in context
How much room price has to move
Price is 0.0% below the highest weekly close in the stored history. It is 1.9% below the 52-week high. The two figures use different reference points.
Largest contributors to the risk score
- Wave maturity
A forming Wave 5 is mature structure: upside can continue, but reward-to-risk is usually less forgiving.
- Range position
Price is 95% of the way through its 52-week low-to-high range.
- Trend extension
Price is 11.4% above the 30-week trend; large positive gaps increase snap-back vulnerability.
Downside risk check
54/100Elevated vulnerability
This score combines the risk checks shown here. A higher score means more warning signs, not a measured probability of a fall.
52-week low44.33
52-week high68.53
Based on the latest 26 weekly returns
Average high-to-low range over 13 weeks
From the highest close in the stored record
Of its trailing 20-week average
Drawdown history
Distance below the highest prior weekly close.
Realised volatility
Annualised variability of the latest 26 weekly returns.
Relative volume
Weekly volume as a percentage of its 20-week average.
06 · Market context
Sector trends and upcoming events
Compare the pattern with other stocks in the sector, then check whether an event could change the price picture.
Upward wave counts are not a majority among the analysed peers. That alone does not establish a downward sector trend.
50% constructive
8 of 16 analysed peers have a leading upward wave pattern.
6% have improving cycles Breadth shows whether peers share the structure. Cohort outcomes use non-overlapping, point-in-time trend and momentum states from the same sector and report benchmark excess return when matching benchmark bars exist; they are context, not a backtest of the Elliott count.Event information is limited
No additional warning is recorded. Missing event data does not rule out a surprise.
These are the latest stored event readings. Missing earnings or options data does not mean that event risk is absent.| Peer-state horizon | Non-overlapping samples | Positive | Median | Median excess vs ^FTSE | Middle 80% of returns |
|---|---|---|---|---|---|
| 4 weeks | 507 | 59% | 1.0% | 0.2% | -5.4% to 6.1% |
| 13 weeks | 177 | 71% | 3.1% | 0.3% | -4.9% to 10.5% |
| 26 weeks | 99 | 74% | 6.8% | 1.6% | -10.8% to 14.9% |
07 · History
93 similar weekly states
What happened after similar readings
After similar readings, the middle 4-week return was -0.4% across 92 completed outcomes. The range below shows how far individual outcomes differed. Overlapping weeks are not independent tests of this wave count.
Typical return after a match
Median outcome after each matching historical week.
| Horizon | Matches | Positive | Median | Range |
|---|---|---|---|---|
| 4 weeks | 92 | 48% | -0.4% | -13.4% to 14.6% |
| 13 weeks | 90 | 43% | -1.7% | -14.3% to 37.2% |
| 26 weeks | 82 | 54% | 2.3% | -15.7% to 38.0% |
Overlapping historical matches are descriptive context, not independent observations or a forecast.
Data quality, rules and limitations
Evidence quality100/100
This measures usable history, indicator coverage and confirmed swing points. It does not measure the chance of the scenario succeeding.
- Weekly history
- 100/100
- Indicator coverage
- 100/100
- Confirmed structure
- 100/100
Rules and data notes
- Swing points use weekly closes and a 8.3% adaptive reversal threshold.
- The final swing is provisional until the reversal threshold is met.
- Candidate counts must pass the Wave 2 origin, Wave 3 progression/length and Wave 4 overlap rules when those waves are present.
- Fibonacci proportions and alternation rank valid candidates but never rescue a hard-rule failure.
- Primary and alternate evidence weights compare admissible counts; they are not probabilities.
- Nominal Hurst periods adapt to observed weekly rhythm. Future windows include measured timing uncertainty and require FLD or price confirmation.
Audit trail
Recent swing points
Dates and prices for the recent swings. The final point can still move.
| Date | Status | Type | Price | Move | Duration |
|---|---|---|---|---|---|
| 2024-01-19 | Confirmed | Low | 38.72 | -13.0% | 18 weeks |
| 2024-04-12 | Confirmed | High | 47.67 | 23.1% | 12 weeks |
| 2024-09-13 | Confirmed | Low | 42.32 | -11.2% | 22 weeks |
| 2024-11-22 | Confirmed | High | 48.73 | 15.1% | 10 weeks |
| 2024-12-20 | Confirmed | Low | 42.19 | -13.4% | 4 weeks |
| 2025-01-17 | Confirmed | High | 47.35 | 12.2% | 4 weeks |
| 2025-04-11 | Confirmed | Low | 39.00 | -17.6% | 12 weeks |
| 2026-03-27 | Confirmed | High | 65.54 | 68.1% | 50 weeks |
| 2026-04-17 | Confirmed | Low | 56.45 | -13.9% | 3 weeks |
| 2026-05-22 | Confirmed | High | 61.23 | 8.5% | 5 weeks |
| 2026-07-03 | Confirmed | Low | 55.29 | -9.7% | 6 weeks |
| 2026-09-11 | Forming | High | 67.25 | 21.6% | 10 weeks |