June 13, 2021

Elliott Wave Update – ES – June 13, 2021

Friday’s trade initially did follow what I was looking for analysis wise.  However, the ES failed to make a new under 4218 which has left an ominous 3 waves down off of the Thursday’s highs at 4243.  This in turn brings about the potential for a more prolonged small wave 2 correction off of last week’s all time high at 4249 with a “c” wave decline yet to come and reaching below 4218.  If though, the ES moves above 4248 I may have to consider a wave 2 failure with a wave 3 advance being underway and likely to push towards the next zone up which begins at 4260 to 4290.  As I continue to say – “I’ll let the market tell me where it wants to head and trade what is in front of me.”