• 11 hours Homeowners Experiment With Risky New Investment Trend
  • 14 hours U.S. Tech Stocks Look Increasingly Vulnerable
  • 17 hours De Beers To Expand World’s Most Profitable Diamond Mine
  • 19 hours Ford CEO Gets Raise After Massive Layoff Round
  • 1 day Germany’s Flirtation With Recession Could Cripple The Global Economy
  • 2 days Where To Look As Gold Miners Inch Higher
  • 2 days Google Faces Billions In Fines From European Regulators
  • 3 days The Energy Industry Has A Millennial Problem
  • 3 days Russian Banks Scramble For Sanction Loopholes
  • 4 days Gold ETFs Take A Hit After Four-Month Run
  • 4 days European Union Takes Aim At Ten New Tax Havens
  • 5 days Goldman Defends Trillion-Dollar Corporate Buyback Spree
  • 5 days $600 Billion At Risk As Boeing Fallout Continues
  • 5 days Venezuela Has Yet Another Crisis Developing
  • 5 days Wells Fargo Accused Of “Ongoing Lawlessness”
  • 6 days Hollywood Agency Returns $400M Investment To Saudi Wealth Fund
  • 6 days Why Twitter's CEO Is Backing A New Bitcoin Boom
  • 6 days U.S. Treasury To Employ “Extraordinary Measures” To Fend Off Default
  • 6 days Lobster, Golf Carts And Fidget Spinners: What’s In The Federal Budget?
  • 7 days Italy Launches New Welfare Experiment
Lending: The Good, Bad, And Ugly

Lending: The Good, Bad, And Ugly

Aristotle said, “The most hated…

The Chatroom Cartel Running Global Bond Markets

The Chatroom Cartel Running Global Bond Markets

Eight major banks have been…

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

ES_F Elliott Wave View: Ending Impulse

Short Term Elliott Wave view in ES_F suggests the rally to 2403.75 ended Minor wave A. Minor wave B unfolded as an Expanded Flat Elliott Wave structure where Minute wave ((a)) ended at 2379, Minute wave ((b)) ended at 2404.5, and Minute wave ((c)) of B ended at 2344.5. After ending the pullback, the Index started a new leg higher and the rally from 2344.5 low looks to be unfolding as a 5 waves Elliott Wave impulse structure where Minutte wave (i) ended at 2375, Minutte wave (ii) ended at 2361, Minutte wave (iii) ended at 2388 and Minutte wave (iv) ended at 2378. Minutte wave (v) is in progress and the Index has scope to extend higher towards 2404.2 – 2410.5 area and this last push higher should also end Minutte wave (a).

Once Minutte wave (a) is complete, the Index is expected to pullback within Minutte wave (b) in 3, 7, or 11 swing to correct cycle from 5/18 low (2344.7) before the rally resumes again. Ideally the last push higher in Minutte wave (v) of (a) breaks above the previous peak at 2404.5 as a break above that level will give confirmation that the Index has started the next leg higher. If Minutte wave (a) can end above 2404.5, there’s a better chance that Minutte wave (b) pullback can hold above 2344.7 for the next leg higher. We don’t like selling the proposed pullback and expect buyers to appear again once Minutte wave (b) pullback is complete at later stage, provided that pivot at 2344.7 low remains intact.

ES_F 1 Hour Elliott Wave Chart

Back to homepage

Leave a comment

Leave a comment