The Video below is a short capture from the Plus Daily Technical Video held on October 26th by Hendra Lau. Hendra counted the short term swings and explained our Elliott Wave forecast of ES #F
We expected wave (X) blue to make double three against the 1981.58 low. At that time the price of ES #F still hadn’t broken below the 09/12 low. However we knew it will probably make double three as SPX was showing 5 swings in the cycle from the same 08/23 peak, suggesting another swing down in futures as well. We expected ES #F to reach 2080-2023 area and find buyers for further rally above the 08/23 peak. (marked as wave (W) blue on the chart).
Eventually wave (X) blue made double toward proposed area, found buyers and made nice rally reaching new highs. Keep in mind market is dynamic. If you’re interested in the future path of ES #F or in any of the other 50+ instruments we cover, join us now. You can find Elliott Wave analysis in the membership area of EWF. If not a member yet, Sign Up for Free Trial now
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