January 6, 2022

S&P 500 / Elliott Wave Update 1/06/2022 by Michael Filighera

Thursday’s trade held within parameters for current analysis.  The ES did put in an additional low at 4662 early in the session and it marks the completion point for wave 3 of “C” with wave 4 of “C” now in progress.  It appears that the ES may need an additional small leg up to complete wave 4 of “C” with resistance coming in at 4720 to 4730.  Once complete expectations would be wave 5 of “C” to carry the ES back below 4662 with support to complete the larger Minor wave 2 correction coming in at 4630 to 4605.