• 17 hours Lunar Mining May Commence As Early As 2025
  • 1 day Immigration Will Go Bust Without $1.2B Bailout
  • 2 days The Economics Of The Space Race
  • 3 days Why The World's Central Banks Aren't Yet Sold On Renewables
  • 3 days How Much More Cash Can Uber Burn?
  • 4 days Inside The Biggest Counterfeit Gold Scandal In Recent History
  • 4 days EU-U.S. Trade Relations Are Deteriorating
  • 4 days Over 184 Companies Have Bailed On Facebook
  • 5 days BP Sells Petrochemical Business For $5 Billion
  • 5 days U.S. Moves To Secure Domestic Rare Earth Supply
  • 5 days E-Commerce Explodes As Boomers Go Digital
  • 6 days Major U.S. Cities Are Turning To Renewables
  • 6 days Economic Reopening Backfires, COVID Surge Snaps Recovery
  • 7 days How Are Low Car Sales Impacting The Metals Market?
  • 7 days Are Gold Stocks Still Undervalued?
  • 8 days Singapore's $3 Billion Oil Trading Scandal
  • 9 days Luxury Clothing Isn’t A Priority As Americans Grapple With COVID-19
  • 9 days Natural Gas Demand Hits 25-Year Low
  • 10 days Gold Inches Towards $1,800 As Investors Pile Into ETFs
  • 10 days The War On Gold Has Begun
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to…

Contact Author

  1. Home
  2. Markets
  3. Other

SP E-Mini (ES_F) Short-Term Elliott Wave Analysis

In our previous Chart of The Day at 5/21/2015, we said that the rally from wave X low (2057.41) took the form of a double correction (w)-(x)-(y) and the whole rally is complete as wave ((w)) at 2134. We also said wave ((x)) pullback is in progress to correct the rally from 2057.41 low towards an ideal target area of 2086.64 - 2095.66 (50 - 61.8 back) before the Index resumes the rally again.

Since our last update, current preferred Elliott wave view suggests the rally from wave X low at 2057.41 is instead unfolding in the form of a triple correction ((w))-((x))-((y))-((x))-((z)), where wave ((w)) ended at 2113.5, wave ((x)) ended at 2079.25, and wave ((y)) ended at 2134. Second wave ((x)) pullback is currently in progress towards 2101.09 - 2113.03 before the Index turns higher in wave ((z)). We do not like selling the proposed wave ((x)) pullback. Once wave ((x)) pullback is complete in 3, 7, or 11 swings, buyers are expected to come again and push the Index higher provided pivot at X (2057.41) low remains intact.

S&P500 E-Mini Short-Term Elliott Wave Analysis Chart
LargerImage

 


If you would like to have an access of EWF analysis in real time, click here (URL: ) and feel free to join us. We provide Elliott Wave charts in 4 different time frames, 2 live webinars by our expert analysts every day, 24 hour chat room support, market overview, daily and weekly technical videos and much more.

 

Back to homepage

Leave a comment

Leave a comment