Wave 5 of (1) Near Completion — Sharp Wave (2) Pullback ExpectedE-mini S&P 500 FuturesCME_MINI_DL:ES1!sentimenttimingMorning Intelligence Report: April 22, 2026 The Institutional Tape While price remains buoyant, the tape is flashing a significant divergence. Shorter-term frames are catching a bid, but institutional selling persists on the longer time frames. Our Liquidity Engine is currently printing a Bearish Selling signal with a fast reading of -5.07 and a slow reading of -7.86. This confirms that "smart money" is distributing into this strength, creating a precarious environment for anyone chasing the "green" at these levels. Elliott Wave Outlook: The Path to All-Time Highs The price action off yesterday's lows suggests we are in the final stages of a complex corrective structure. We are tracking two primary paths for the completion of this move before the larger cycle reversal hits: Scenario A (Wave 4 Complete): Yesterday’s low marked the end of Wave 4. If this holds, we are currently in the early stages of Wave 5, which should push the market toward new All-Time Highs (ATH). Scenario B (The Bull Flag Test): We may need one more flush to test the Bull Flag "Alt 4" support near 7025. A successful test there would provide the necessary base for that final Wave 5 surge to new highs. The Cycle Exhaustion Window Broad geocosmic and natural cycles indicate we are currently operating within a "New Cycle" that began on April 8. While this cycle has been explosive—doubling values in specific tech sectors over the last ten days—it is nearing a strategic "higher-side" ceiling. Once this current Wave 5 structure completes at new highs, I am anticipating a sharp 5-10 day retrace. This larger Wave 2 correction is expected to retrace approximately 50% of the entire rally originating from the April 7 lows. Strategy & Execution Immediate Resistance: 7169 and the previous ATH. Key Support: 7025 (The Bull Flag "Alt 4" line). This is the "must-hold" level for the immediate bullish count. The Play: The higher we go, the more the institutional distribution increases. Use the current strength to tighten stops and prepare for a volatility event once Wave 5 is exhausted. We are looking to ride this final leg up but remain ready to rotate into a protective stance before the Wave 2 flush begins. Risk Note: A failure to hold the 7025 pivot would suggest the Wave 2 correction is starting prematurely. Keep a close eye on the Institutional Pivot Matrix for any signs of a liquidity vacuum at the highs. 🚀 Click the rocket if this lines up ⭐ Follow for more setups 📊 More info on the Matrix in my profile 🔥 If there’s a ticker you’d like analyzed through the lens of the Matrix, drop it in the comments.