Elliott Wave Update – ES – June 7, 2021
Monday’s trade to hold to current analysis. Market was slower today and the ES traded under lite volume. Nonetheless the ES appears to be on track to continue to move higher. Yesterday’s analysis did include smaller pullbacks and that is what we saw today. If the small correction is complete at today’s lows expectations would be for the rally to continue and for the ES to move above 4233 and on up to 4243 before the next corrective sequence begins. A stronger rally would be also in the picture should the ES find additional strength and break above 4243 additional resistance comes in at 4261 and 4274 to 4287. Downside from here should be limited to the 4200 level.