FAZ Projections Following Break Out 5/13/20

Fed Chairman recant on Dovish hints seem to correspond with the anticipated break DOWN of the S&P and the break OUT of FAZ. While the move out of multiple symmetrical triangles does confirm the upward trend for FAZ, it would have been ideal to have a solid close in within the upward channel, and was just a few points below it. To be more certain we will need some follow through and a get the close in the upward channel. I have put an Elliot Wave projection utilizing resistance zones and gap zones as pivot points, but I am not seasoned on EW, so use that info sparingly.