June 23, 2021

Elliott Wave Update – ES – June 23, 2021

Wednesday’s trade was quietly range bound.  The ES did make a new high to complete wave 1 of 3 during globex and spent today’s session tracing out wave 2 of 3, which looks to need a bit more downside to complete – I would not be looking for strong downside with the 4227  to 4216 area containing the move.  Wave 3 of 3 should give a good boost towards reaching new highs above 4258 before an additional a-b-c correction takes place.  Resistance remains at 4258 to 4270  with overflow likely to be contained at 4286.  Ultimately expectations remain for the larger advance to reach 4300+ before the Primary degree correction begins.