Quick update on the S&P ES e-mini futures contract by Sid from ElliottWavePredictions.com

Sid Norris
 In Blog, S&P 500

Quick update on the S&P ES e-mini futures contract by Sid from ElliottWavePredictions.com. Click on the chart twice to enlarge.

The pink vertical lines are placed at the MACD line or MACD histogram extremes, and confirm the validity of this Elliott Wave count by matching up nicely with the wave 3 extremes throughout. Also, notice the sizeable MACD divergence showing on this 3-hr chart, which is a strong indicator that the downward momentum is spent for now.

Sid
http://elliottwavepre.wpengine.com

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