Elliott Wave Update – ES – April 25, 2021

Friday’s trade gave us the unexpected “alternate” count presented on Thursday in that new lows under Thursday’s didn’t materialize and the buyers returned in strength pushing the ES to a slight new all time high at 4186.50. The Intermediate wave 4 correction remains in force for now with the internal waves a&b likely complete or nearly so. For Monday continued upside should be held to resistance at 4216 to 4222 to complete wave “b”. Wave “c” would then be expected to begin and ultimately reach support at the 4068 level to complete the larger wave 4 correction.