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![Elliott Wave view: S&P 500 futures ($ES) wave five in progress [Video]](https://huewire.com/wp-content/uploads/2024/11/14921-elliott-wave-view-sp-500-futures-es-wave-five-in-progress-video.jpg)
Short Term Elliott Wave View in S&P 500 Futures (ES) suggests rally from 8.6.2024 low is in progress as an impulse. Up from 8.6.2024 low, wave 1 ended at 5669.75 and pullback in wave 2 ended at 5394. Wave 3 higher ended at 5927.25. Dips in wave 4 unfolded as a double three Elliott Wave structure. Down from wave 3, wave (a) ended at 5861.25 and wave (b) ended at 5904.25. Wave (c) lower ended at 5801 which completed wave ((w)) in higher degree. Rally in wave ((x)) unfolded as a zigzag structure. Up from wave ((w)), wave (a) ended at 5870 and wave (b) ended at 5822.5. Wave (c) higher ended at 900.75 which completed wave ((x)) in higher degree.
S&P 500 futures (ES) 60 minutes Elliott Wave chart
Index then turned lower in wave ((y)) with internal subdivision as a zigzag. Down from wave ((x)), wave (a) ended at 5835 and wave (b) ended at 5893. Wave (c) lower ended at 5724.5. This completed wave ((y)) of 4 in higher degree. The Index has resumed the rally higher and made a new high. Up from wave 4, wave (i) ended at 5758.75 and wave (ii) ended at 5735. Wave (iii) higher ended at 5954 and wave (iv) ended at 5900.75. Expect the Index to end wave (v) of ((i)) soon, then it should pullback in wave ((ii)) to correct cycle from 11.5.2024 low before it resumes higher. Near term, while pivot at 5724.5 low is intact, expect pullback to find buyers in 3, 7, 11 swing for further upside.
ES_F Elliott Wave video
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