The Magnificent Seven ETF (MAGS) tracks the efficiency of seven main U.S. expertise and development firms. It gives buyers concentrated publicity to among the market’s most influential names. Since its launch, MAGS has exhibited sturdy directional strikes that lend themselves effectively to Elliott Wave evaluation. It has clear impulsive advances and corrective phases shaping its medium‑time period pattern construction.
MAGS weekly Elliott Wave chart
The weekly Elliott Wave view of the Magnificent Seven ETF (MAGS) exhibits the preliminary advance from its all‑time low peaking in wave (I) at $58.69 in December 2024, a transfer formed by a 5‑wave impulse. That rise was adopted by a corrective section, with wave (II) bottoming at $39 in April 2025. From there, the ETF launched into wave (III) as a nested development, carrying costs to $69.14 to finish wave I. The next decline in wave II discovered help at $55.09, setting the stage for one more leg increased in wave III. Inside this advance, wave ((1)) of III topped at $71.16. A pullback in wave ((2)) is now anticipated, working off the cycle that started from the March 30, 2026 low, earlier than the broader uptrend resumes.
MAGS every day Elliott Wave chart
On the every day Elliott Wave chart of the Magnificent Seven ETF (MAGS), the advance from the April 2025 low carried by to wave I at $69.14. The next decline in wave II discovered help at $55.04, after which the ETF turned increased into wave III. Inside this sequence, wave ((1)) of III peaked at $71.16. The present retreat in wave ((2)) of III is unfolding as a flat correction, working off the cycle that started from the March 30, 2026 low, earlier than the broader upward pattern resumes.
