LMT | Lockheed Martin | 1D
Core Idea
LMT is trying to complete a higher-degree Wave (2) correction.
The pullback from the Wave (1) high near 693.918 has reached the main Fibonacci retracement zone and is now reacting from that area. As long as price holds above the structural VWAP and the invalidation level, the chart remains positioned for a potential Wave (3) advance.
Elliott Wave Structure
The preferred count treats the rally into 693.918 as Wave (1).
The current correction is labeled as Wave (2). Price has already tested the key retracement area:
547.418: 50.0% retracement
513.728: 61.8% retracement
465.763: 78.6% retracement
409.892: invalidation
The reaction from the lower part of this zone is constructive. A sustained reclaim of 547.418 would be the first sign that Wave (2) may be complete.
VWAP Structure
The upper VWAP is the most important structural support.
Price corrected toward the VWAP region but did not break the broader bullish base. This supports the idea that the move is still a corrective Wave (2), not a full trend failure.
The lower VWAP remains far below price and acts as a long-term reference line. As long as LMT stays clearly above the upper VWAP, the larger structure remains constructive.
Key Levels
545.910: current price area
547.418: first reclaim level
513.728: key Wave (2) support
465.763: deep Wave (2) support
409.892: invalidation
693.918: major confirmation above Wave (1)
883.324 to 997.346: projected Wave (3) target zone
Bullish Scenario
If LMT holds above 513.728 and reclaims 547.418, the Wave (2) low becomes increasingly likely.
Above 693.918, the next impulsive phase would be confirmed. In that case, the preferred Wave (3) target zone sits between 883.324 and 997.346.
Bearish / Alternative Scenario
If price fails at 547.418, another test of 513.728 or 465.763 remains possible.
Below 409.892, the preferred bullish count is invalidated. That would suggest the correction is larger and that the move from the Wave (1) high is not finished.
Trading Interpretation
The setup is constructive, but not fully confirmed yet.
The cleanest signal would be a sustained move above 547.418, followed by higher lows above the VWAP region. Until then, LMT remains in the transition area between late Wave (2) correction and early Wave (3) expansion.
Conclusion
LMT is holding a technically important Wave (2) zone above VWAP.
The next decision level is 547.418. A reclaim of that level strengthens the bullish case, while a breakout above 693.918 would confirm the larger Wave (3) scenario toward 883.324 to 997.346.
Core Idea
LMT is trying to complete a higher-degree Wave (2) correction.
The pullback from the Wave (1) high near 693.918 has reached the main Fibonacci retracement zone and is now reacting from that area. As long as price holds above the structural VWAP and the invalidation level, the chart remains positioned for a potential Wave (3) advance.
Elliott Wave Structure
The preferred count treats the rally into 693.918 as Wave (1).
The current correction is labeled as Wave (2). Price has already tested the key retracement area:
547.418: 50.0% retracement
513.728: 61.8% retracement
465.763: 78.6% retracement
409.892: invalidation
The reaction from the lower part of this zone is constructive. A sustained reclaim of 547.418 would be the first sign that Wave (2) may be complete.
VWAP Structure
The upper VWAP is the most important structural support.
Price corrected toward the VWAP region but did not break the broader bullish base. This supports the idea that the move is still a corrective Wave (2), not a full trend failure.
The lower VWAP remains far below price and acts as a long-term reference line. As long as LMT stays clearly above the upper VWAP, the larger structure remains constructive.
Key Levels
545.910: current price area
547.418: first reclaim level
513.728: key Wave (2) support
465.763: deep Wave (2) support
409.892: invalidation
693.918: major confirmation above Wave (1)
883.324 to 997.346: projected Wave (3) target zone
Bullish Scenario
If LMT holds above 513.728 and reclaims 547.418, the Wave (2) low becomes increasingly likely.
Above 693.918, the next impulsive phase would be confirmed. In that case, the preferred Wave (3) target zone sits between 883.324 and 997.346.
Bearish / Alternative Scenario
If price fails at 547.418, another test of 513.728 or 465.763 remains possible.
Below 409.892, the preferred bullish count is invalidated. That would suggest the correction is larger and that the move from the Wave (1) high is not finished.
Trading Interpretation
The setup is constructive, but not fully confirmed yet.
The cleanest signal would be a sustained move above 547.418, followed by higher lows above the VWAP region. Until then, LMT remains in the transition area between late Wave (2) correction and early Wave (3) expansion.
Conclusion
LMT is holding a technically important Wave (2) zone above VWAP.
The next decision level is 547.418. A reclaim of that level strengthens the bullish case, while a breakout above 693.918 would confirm the larger Wave (3) scenario toward 883.324 to 997.346.
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