Elliott Wave View in SP500 E-Mini Futures ticker symbol: ES_F suggests that the index is extending higher in a bigger wave ((5)). While the short-term rally from 24 September 2020 low is unfolding as an impulse structure. And shows a higher high sequence favoring more strength. While the rally to $3388 high ended wave (1). Down from there, the pullback to $3300.25 low has ended wave (2). Up from there, wave (3) remains in progress into another impulse sequence where wave 1 in red has ended at $3421.75 high.
Below from there, wave 2 pullback ended at $3331.61 low. Above from there, wave 3 remains in progress whereas lesser degree wave ((i)) has ended at $3433 high. Wave ((ii)) pullback has ended at $3414.25 low and wave ((iii)) has ended at $3541 high yesterday’s peak. And lesser degree wave ((iv)) is expected to end in between $3518- $3507 area. Then as far as the pivot from $3331.61 low stays intact index is expected to extend higher in wave ((v)) approximately towards $3547.75- $3558.25 area before entering into wave 4 pullback.
ES_F 1 Hour Elliott Wave Chart