Elliott Forecast - SP 500 Futures (ES) Impulsive Rally Favors the Bullish Side

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Elliott Forecast

Daud Bhatti

S&P 500 Futures (ES) Impulsive Rally Favors the Bullish Side

Short Term Elliott Wave in S&P 500 Futures (ES_F) suggests that cycle from 7.27.2023 high has ended with wave (4) at 4235.5. The Index has turned higher in wave (5). The rally is currently in progress as a . Up from wave (4), wave ((i)) ended at 4304 and pullback in wave ((ii)) ended at 4242.35. The Index then extended higher again. Up from wave ((ii)), wave (i) ended at 4358.5 and wave (ii) dips ended at 4299.5. Wave (iii) ended at 4381, wave (iv) ended at 4366.25, and wave (v) ended at 4419 which completed wave ((iii)). Pullback in wave ((iv)) ended at 4377.25.

Up from wave ((iv)), wave (i) should end soon. Then the Index should see a wave (ii) pullback before two more highs in wave (iii) and (v). This should complete the larger degree wave ((v)) of 1. Afterwards, expect wave 2 pullback to correct cycle from 10.4.2023 low before it resumes higher. Near term, as far as pivot at 4235.5 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.

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12/10/2023 1 EN

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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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Daud Bhatti

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S&P 500 Futures (ES) Impulsive Rally Favors the Bullish Side

Elliott Wave Expects Silver (XAGUSD) Pullback to Find Support

Elliott Wave Analysis on SPX Looking to Extend Higher in Impulsive Structure

Ethereum (ETHUSD) : Incomplete Sequences Calling the Decline

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