TD : Should Expect Sideways To Lower Before Upside Resumes

The Toronto-Dominion Bank (TD), together with its subsidiaries, provides various financial products & services in Canada, US & internationally. It operates through three segments: Canadian retail, US retail & Wholesale banking. It is based in Toronto, Canada, comes under Financial services sector & trades as “TD” ticker at NYSE.

TD ended wave I at $86.02 as ATH & below there, it favors correcting lower in II correction in double three sequence. It expect to bounce in short term, before further downside will resumes later.

TD – Elliott Wave Latest Daily View : 

It made $33.74 low during global sell off in early 2020. Later it made an impulse sequence as I red and favored ended at all time high at $86.02. It placed ((1)) at $51.34 high on 8/27/2020. Below there, it favored ended ((2)) at $42.90 low as 0.5 Fibonacci retracement against ((1)). It ended ((3)) at $73.85 high on 5/27/2021 as third wave extension. It placed ((4)) at $62.81 on 9/20/2021 as 0.382 Fibonacci retracement against ((3)). Finally, it ended ((5)) at $86.02 as I impulse. While below there, it favors lower in II correction in 7 or 11 swings.

Below $86.02 high, it placed ((W)) at $58.64 low on 7/14/2022. Currently, it favors a corrective bounce in ((X)) leg in proposed 7 swings correction. It favors pullback in (X) leg followed by more upside in (Y) to finish ((X)) connector. Later it expect more weakness to continue in ((Y)) leg to finish larger II correction. We like to buy the dips towards extreme areas in wave II, when reached.