• 3 days Chinese Stocks Rebound After Regulatory Scare
  • 5 days Apple Stocks Falls After Blowout Earnings Report
  • 5 days The 5 Biggest IPO Disasters Of 2021
  • 6 days Crypto-Based ‘Shadow Financial Market’ Spooks Regulators
  • 9 days Ireland Balks At Biden’s Global Tax Plan
  • 12 days Robinhood To Trade On Nasdaq Targeting $32B Valuation
  • 15 days Facial Recognition Is Watching You
  • 17 days Biden’s $3.5T ‘Human Infrastructure’ Workaround
  • 17 days The Fed’s $3 Trillion Headache
  • 20 days Why Bitcoin Could Struggle To Recover After Epic Crash
  • 20 days Wells Fargo Back In The Spotlight Over Personal Loan Cancellations
  • 21 days Delta Variant Real Threat To Economic Recovery
  • 24 days JEDI Drama Continues With Microsoft Contract Cut
  • 26 days DiDi Shares Take a Beating From Chinese Regulators
  • 27 days Thousands Of Companies Hit In Latest Ransomware Attack
  • 27 days Jobs Report Has Big Numbers, But Still Big Problems
  • 28 days Robinhood’s ‘Mission’ Questioned in $70M Fine
  • 31 days Didi Just Went Public, And Uber Is Loving It
  • 32 days Islamic Finance On Track To Hit $3.7 Trillion
  • 33 days The Lumber Bubble Is Bursting
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

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