Elliott Forecast - Elliott Wave View: SP 500 E-Mini Futures (ES) Near Term Rally Likely Fail | ResearchPool

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Elliott Forecast

Eric Morera

Elliott Wave View: S&P 500 E-Mini Futures (ES) Near Term Rally Likely Fail

April 26, 2022 By

Short term Elliott Wave view in S&P 500 E-mini Futures (ES) suggests cycle from March 30, 2022 has ended in wave (W) at 4195.25. The internal subdivision of wave (W) unfolded as a . Down from March 30 peak, wave A ended at 4382.25 and rally in wave B ended at 4509.51. Index then extended lower in wave C towards 4195.25 which completed wave (W). Wave (X) corrective rally is currently in progress to correct cycle from March 30 peak in a larger degree 3 , 7, or 11 swing before Index resumes the decline lower.

The internal subdivision of wave (X) is proposed to be in the form of a zigzag Elliott Wave structure. Near term, expect wave A to end soon, then Index should pullback in wave B before turning higher again in wave C. Near term, as far as pivot at 4509.51 high, and more importantly March 30, 2022 pivot high at 4631 stays intact, expect rally to fail in 3, 7, or 11 swing for further downside. Potential target lower is 100% – 161.8% Fibonacci extension from January 4, 2022 peak which comes at 3490 -3927.

ES 45 Minutes Elliott Wave Chart

ES Elliott Wave Video

Source:-forecast.com/news/elliott-wave-view-sp-500-e-mini-futures-es-near-term-rally-likely-fail/

#elliottwave #trading #sandp500

26/04/2022 1 EN

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Elliott Forecast

Elliott 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 thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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Eric Morera

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