Elliott Wave Update – ES – April 19, 2021

Included in tonight’s podcast – updated Elliott count with expectations associated with the Preferred and Alternate counts. The preferred count continues to track the finishing stages of minor wave 5 of Intermediate wave 3. Within minor wave 5 the market has completed minute waves 1 – 4. Minute wave 5 appears to be subdividing as well – Where waves 1 and 2 look complete. If this is the case the rally should pick up some steam as it continues to head to 4183.50 as a minimum. Ultimately a break above 4183.50 should occur with a move to next resistance at 4238