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Elliott Wave View: S&P 500 E-Mini Futures (ES) Resumes Rally Higher

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Short Term Elliott Wave View in S&P 500 E-Mini Futures (ES) suggests that the Index remains within the cycle from March low as an impulse Elliott Wave structure. The 60 minutes chart below shows the Index ended wave ((4)) at 3226.90 and it has resumed higher. Up from wave ((4)) low at 3226.90, 1 ended at 3323.5 and pullback in wave 2 ended at 3272. Index resumed higher in wave 3 towards 3397 and wave 4 pullback ended at 3328.50. Index then extended in wave 5 towards 3432.25. This completed wave (1) in higher degree.

Pullback in wave (2) then ended at 3319. Index has then resumed higher within wave (3). Up from wave (2) low at 3319, wave ((i)) ended at 3408 and pullback in wave ((ii)) ended at 3357. Wave ((iii)) ended at 3480, wave ((iv)) dips ended at 3428.25, and wave ((v)) higher ended at 3522.50. This completed wave 1 of (3) in higher degree. Wave 2 pullback is now in progress to correct cycle from November 4 low in 3, 7, or 11 swing before the rally resumes. As far as pivot at October 31 low (3226.90) stays intact, expect the Index to see further upside.

S&P 500 E-Mini Futures (ES) 60 Minutes Elliott Wave Chart

S&P 500 E-Mini (ES) Elliott Wave Chart

S&P 500 E-Mini Futures (ES) Elliott Wave Video

Elliott Wave View: S&P 500 E mini Futures (ES) Correction In Progress

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Elliott Wave View of S&P 500 E-mini Futures (ES) suggests the Index ended the cycle from June 15 low as wave ((3)) at 3587 high. From there, Index has extended lower to correct that cycle. The correction is unfolding as a double three Elliott Wave Structure. Down from wave ((3)) high, wave W ended at 3347.75 low. Wave X bounce ended at 3453.25 high. Index then resumed lower in wave Y, which ended at 3295.50 low. This also ended wave (W) in higher degree. Afterwards, Index bounced higher in wave (X). The subdivision unfolded as a flat correction, where wave A ended at 3424.25 high and wave B ended at 3298.25 low. The rally higher in wave C ended at 3419.21 high, which also ended wave (X) in the higher degree.

Since then, Index has resumed lower in wave W, which ended at 3217.75 low. The decline broke below previous wave (W) low, confirming that next leg lower in wave (Y) has already started. Currently, Index is doing a bounce in wave X, which will be followed by push lower in wave Y to end wave (Y) in higher degree. While below 3419.21 high, bounce in 3,7 or 11 swings is expected to fail for more downside. The 100-161.8% extension area of wave (W)-(X) where wave (Y) can potentially end is at 2945.50-3126.66. If reached, that area should see buyers appear to resume the rally or 3 waves bounce at least.

ES 1 Hour Elliott Wave Chart

ES 9.22.2020 Asia

ES Elliott Wave Video

Elliottt Wave View: S&P 500 (SPX) Pulling Back After Making All-Time High

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Elliott Wave View of S&P 500 (SPX) suggests the rally from July 25,2020 low has ended at 3399.54 high as wave 3, which is also a new all-time high. Up from July 25 low, wave ((i)) ended at 3264.74 high and wave ((ii)) dip ended at 3204.13 low. Index then extended higher in wave ((iii)) towards 3381.01 high. The internal subdivision of wave ((iii)) unfolded as 5 waves impulse Elliott Wave Structure. Wave (i) of ((iii)) ended at 3264.74 high and wave (ii) pullback ended at 3220.26 low. Rally higher in wave (iii) then ended at 3351.92 high, followed by wave (iv) pullback, which ended at 3328.72 low. Wave (v) then extended higher and ended at 3381.01 high.

Afterwards, the Index did a pullback in wave ((iv)), which ended at 3326.44 low. Finally, wave ((v)) higher ended at 3399.54 high. This final move completed wave 3 in higher degree and ended cycle from July 25 low. Index is currently correcting that cycle within wave 4. The correction is unfolding as a zigzag correction, where wave ((a)) is currently in progress. The bounce in wave ((b)) should follow before another leg lower in wave ((c)) to end wave 4.  As long as 3199.50 low stays intact, expect the dips in 3,7 or 11 swings to find support for more upside.

SPX 30 Minutes Elliott Wave Chart

SPX 8.20.2020 Asia

SPX Elliott Wave Video

Elliott Wave View: S&P 500 ($SPX) Bullish Cycle Remains Intact

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S&P 500 (SPX) 30 minutes chart below shows that the Index has ended the correction from July 14 high. From July 14 high, wave (2) ended at 3127.66 low. From there, the Index has continued to resume higher. The rally has already broken above July 14 high, confirming that the next leg higher has already started. Up from wave (2) low, the Index rallied higher in wave 1. The subdivision unfolded as a 5 waves impulse Elliott Wave Structure.  Wave ((i)) ended at 3238.28 high and the pullback in wave ((ii)) ended at 3198.59 low. Afterwards, the Index resumed higher in wave ((iii)), which ended at 3277.29 high. Wave ((iv)) dips then ended at 3247.77 low. The final push higher in wave ((v)) ended at 3279.99 high.  This ended wave 1 in larger degree.

Afterwards, the Index did a pullback in wave 2, which ended at 3199.27 low. The Index has resumed higher since then and has broken above previous wave 1 high, confirming that the next leg higher in wave 3 is currently in progress. As long as 3199.27 low stays intact, the dips in 3,7 or 11 swings is expected to find support for more upside.

S&P 500 (SPX) 30 Minutes Elliott Wave Chart

S&P 500 8.6.2020 Asia

S&P 500 (SPX) Elliott Wave Video

S&P 500 E-Mini Futures ( ES_F ) Found Buyers At The Blue Box Area

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Hello fellow traders.  Another instrument that we have been trading lately is S&P 500 E-Mini Futures (ES_F). In this technical blog we’re going to take a quick look at the Elliott Wave charts of $ES_F , published in members area of the website.  As our members know, $ES_F has recently broken June 9th peak which made it bullish  against the 2920.5 low. Short term cycle from the 2920.5 low also shows higher high sequences, calling for further rally. Consequently, we advised members to avoid selling $ES-F and keep on buying the dips in the sequences of 3,7,or 11 swings whenever get chance. In further text we’re going to explain Elliott Wave Forecast and Trading strategy.

ES_F 1 Hour Elliott Wave Analysis 7.22.2020

ES_F has given us pull back that has reached our buying zone, equal legs (a)-(b) black blue at 3231.57-3210.55 ( buyers zone) . From marked Blue Box area area we expect rally to take us toward new highs ideally. As our members know Blue Boxes are no enemy areas , giving us 85% chance to get a bounce.  We don’t recommend selling it against the main trend. At this stage we expect to see another short term leg down, which may or may not be seen. Anyway,strategy is buying the dips at the marked blue box area.  As the main trend is bullish, we expect to see 3 waves bounce at least from the mentioned zone. As soon as the price reach 50 Fibonacci Retracement against the (b) peak, we should make long positions Risk Free ( put SL at BE).

ES

ES_F 1 Hour Elliott Wave Analysis 7.22.2020

ES_F found buyers at 3231.35-3210.03 , the Blue Box area. We got nice rally from there, when wave ((iv)) completed at 3235.9 low.  All longs from the blue box should be risk free at this stage. As far as the price stays above 3235.9 low and more importantly 3188.3 pivot holds, ES_F can keep trading higher as proposed on the charts.

Keep in mind that market is dynamic and presented view could have changed in the mean time.  You can check most recent charts in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room.

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Elliott Wave View: S&P 500 E-Mini Futures (ES_F) Correction in progress

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Elliott Wave View in S&P 500 E-mini Futures (ES_F) suggests the rally from 6.15.2020 low has ended at 3226.25 high as wave (1).  Up from 6.15.2020 low, wave 1 ended at 3156.25 high and wave 2 dips ended at 2982.72 low. Index then extended higher in wave 3 towards 3184 high. The internal subdivision of wave 3 unfolded as 5 waves impulse Elliott Wave Structure. Wave ((i)) of 3 ended at 3021 high and wave ((ii)) pullback ended at 2988.50 low. Rally higher in wave ((iii)) then ended at 3156.50 high, followed by wave ((iv)) pullback which ended at 3105.75.  Wave ((v)) then extended higher and ended at 3184 high.

Wave 4 pullback then unfolded as a zig-zag Elliott Wave structure and ended at 3105.25 low. Finally, wave 5 higher ended at 3226.25 high. This final move completed wave (1) in higher degree and ended cycle from 6.15.2020 low. Index is currently correcting that cycle within wave (2). The correction is unfolding as a zigzag structure where wave A ended at 3190 low. Currently, wave B remains in progress and will be followed by another leg lower in wave C. While pullback stays above 2982.72 low, expect the dips in 3,7 or 11 swings to find support for more upside.

ES_F 1 Hour Elliott Wave Chart

ES_F 7.14.20 Asia Update

ES_F Elliott Wave Video