• Home
  • /
  • S&P 500 /Elliott Wave Update 12/30/2021 by Michael Filighera

S&P 500 /Elliott Wave Update 12/30/2021 by Michael Filighera

Thursday’s trade didn’t produce any changes to current analysis.  The ES did manage to sneak up to an additional new all time high at 4799.75 before falling back.  The Elliott count remains the same in that a minute 4th wave correction is still in progress.  The internal count suggests the pattern is best viewed as a double A-B-C with today’s decline being all or part of the second wave “C”.  Support remains just below at 4757, 4745 to 4740 and then 4725 to 4711.  Expectations remain for the ES to pick up the advance as the larger Minor 5th wave continues.  Resistance remains at 4800 to 4812, 4854 to 4892 and then 4993.  Tomorrow is the last expiration for 2021 as well as the last trading day of 2021.  Volumes will likely be on the thin side which could produce some stronger periods of volatility.


Tags


You may also like

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}

What is your biggest Trade Killer?

Use the Trader Test to find out:

Commodity Futures Trading Commission: Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.

CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

Content on this site is for educational and entertainment purposes only. Nothing on this site should be viewed as trading advice.