Short Term Elliott Wave in S&P 500 E-Mini Futures (ES) suggests the rally from September 25, 2020 low remains ongoing as a 5 waves impulse Elliott Wave structure. In the 45 minutes chart below, we can see wave (4) of this impulsive rally ended at 4223.53. The Index has resumed higher within wave (5) with internal subdivision of another impulse in lesser degree.

Up from wave (4), wave ((i)) ended at 4338.5 and pullback in wave ((ii)) ended at 4315.50. Index then resumes higher in wave ((iii)) towards 4408.25 and dips in wave ((iv)) ended at 4375.50. Final leg higher wave ((v)) ended at 4416.75 and this completed wave 1 in higher degree. Wave 2 pullback is currently in progress to correct cycle from July 20, 2021 low. The internal subdivision of the pullback is unfolding as a double three Elliott Wave structure. Down from wave 1, wave ((w)) ended at 4364.75, and rally in wave ((x)) ended at 4407.75. Expect wave ((y)) of 2 to end at 4323.4 – 4355.7 blue box area before the Index resumes higher again. Near term, as far as July 20 pivot low at 4223.53 remains intact, expect the Index to find support and extends to new high.

S&P 500 E-Mini Futures 45Minutes Elliott Wave Chart

 

ES Elliott Wave Video

 

FURTHER DISCLOSURES AND DISCLAIMER CONCERNING RISK, RESPONSIBILITY AND LIABILITY Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange (FX) trading, you should carefully consider your investment objectives, level of xperience and risk appetite. Do not invest or trade capital you cannot afford to lose. EME PROCESSING AND CONSULTING, LLC, THEIR REPRESENTATIVES, AND ANYONE WORKING FOR OR WITHIN WWW.ELLIOTTWAVE- FORECAST.COM is not responsible for any loss from any form of distributed advice, signal, analysis, or content. Again, we fully DISCLOSE to the Subscriber base that the Service as a whole, the individual Parties, Representatives, or owners shall not be liable to any and all Subscribers for any losses or damages as a result of any action taken by the Subscriber from any trade idea or signal posted on the website(s) distributed through any form of social-media, email, the website, and/or any other electronic, written, verbal, or future form of communication . All analysis, trading signals, trading recommendations, all charts, communicated interpretations of the wave counts, and all content from any media form produced by www.Elliottwave-forecast.com and/or the Representatives are solely the opinions and best efforts of the respective author(s). In general Forex instruments are highly leveraged, and traders can lose some or all of their initial margin funds. All content provided by www.Elliottwave-forecast.com is expressed in good faith and is intended to help Subscribers succeed in the marketplace, but it is never guaranteed. There is no “holy grail” to trading or forecasting the market and we are wrong sometimes like everyone else. Please understand and accept the risk involved when making any trading and/or investment decision. UNDERSTAND that all the content we provide is protected through copyright of EME PROCESSING AND CONSULTING, LLC. It is illegal to disseminate in any form of communication any part or all of our proprietary information without specific authorization. UNDERSTAND that you also agree to not allow persons that are not PAID SUBSCRIBERS to view any of the content not released publicly. IF YOU ARE FOUND TO BE IN VIOLATION OF THESE RESTRICTIONS you or your firm (as the Subscriber) will be charged fully with no discount for one year subscription to our Premium Plus Plan at $1,799.88 for EACH person or firm who received any of our content illegally through the respected intermediary’s (Subscriber in violation of terms) channel(s) of communication.

Feed news

How do emotions affect trade?
Follow up our daily analysts guidance

Subscribe Today!    

Latest Forex Analysis


Latest Forex Analysis

Editors’ Picks

EUR/USD extends losses after robust US retail sales

EUR/USD is trading closer to 1.1750, extending its losses after US Retail Sales came out at +0.7% against -0.8% in August. ECB President Christine Lagarde said the economy is still not out of the woods. 

EUR/USD News

GBP/USD slides under 1.38 on robust dollar demand

GBP/USD is trading under 1.38, significantly lower after US Retail Sales beat estimates by rising 0.8% in August. The UK government reshuffle passed smoothly for the pound.

GBP/USD News

XAU/USD nosedives to the lowest level since August 13

Gold continued losing ground through the early North American session and dived to the lowest level since August 13, further below the $1760 region post-US macro releases. 

Gold News

Dogecoin killer Shiba Inu ready for new bull run

Shiba Inu gets listed on Binance.US, SHIB price recovers from the loss posted over the past week. The Shiba-Inu-themed token is one of the top 10 most mentioned cryptos on Twitter alongside BTC, ETH, DOGE, ADA.

Read more

AMC trades lower as CEO clarifies cryptocurrency payments

NYSE:AMC fell by 0.97% on Wednesday and lagged other meme stocks during the session. CEO Adam Aron clarifies which cryptos AMC will accept. High profile Hollywood directors are demanding longer theatrical windows.

Read more

Majors

Cryptocurrencies

Signatures