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Elliott Wave Update – ES – May 6, 2021

Thursday’s trade advanced both the preferred and alternate counts a few notches. At the start of globes the Es reached a high at 4202. Expectations are for the buyers to continue to push with a close above 4225 to seal the deal in terms of the alternate carrying equal weight. If as the preferred count suggests the ES is now tracing out a minute wave 5 advance to complete a minor wave 5 and in turn an Intermediate wave of which is telling us a break to new highs is certain. Fibonacci levels have been updated to reflect the advance continuing.

 


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