April 4, 2022

S&P 500 / Elliott Wave Update 4/03/2022 by Michael Filighera

Friday’s trade saw a continue bias towards the sell side until the final hour where buyers brought the ES up off the lows to finish the expiration and the week.  There isn’t anything new to be adding to the current picture.  I have adjusted the labeling to reflect the completion point for wave A of Intermediate 2 at last week’s 4631 high.  Friday’s low at 4501 looks to have completed wave a of B.  This would suggest a small rally to start off the week.  A move back to 4545 to 4555 would be expected to contain the small b wave and set the stage for wave “c” of “B” down.  Again, support to complete wave “B” remains at 4446, 4388, and then 4329.