SP500 technical analysis for today November 17th 2021 using Elliott Wave Theory- The SP500 broke through 4697 today and hit our wave 1 target at 4710 ES. From there it appears to have started it’s pullback in wave 2. Our first support zone for wave 2 is 4680 ES followed by 4660 ES where we will look to add to our long positions at both levels.
SP500 technical analysis using Elliott Wave Theory is telling us that if they break down below 4645 ES then it looks like we could be in an expanded flat that would return to the 4625 ES area for the bottom of wave iv of 3 on the SP500