Correction Resumes in S&P 500 E‑Mini Futures (ES) E-mini S&P 500 FuturesCME_MINI:ES1!Elliottwave-ForecastThe S&P 500 E‑Mini Futures (ES) reached an all‑time high of 7043 on January 28, 2026. Since that peak, the market has entered a larger degree correction, signaling the completion of the cycle that began from the April 2025 low. The current decline is unfolding as part of a corrective phase, and the internal structure of the pullback is developing into a double three Elliott Wave pattern. From the January 28 high, wave W concluded at 6584.5. The subsequent rally in wave X ended at 6852.65, as illustrated on the one‑hour chart. Following this, wave Y has begun to unfold lower in the form of a zigzag. Within wave Y, wave ((a)) finished at 6483.5, while wave ((b)) rallied to 6748. The market has since resumed its downward trajectory, suggesting that the correction remains in progress. The potential target for wave Y is guided by the 100% to 161.8% Fibonacci extension of wave W. This extension projects a zone between 6110 and 6391. Within this area, buyers are expected to emerge, creating the conditions for at least a three‑wave rally. The corrective decline therefore appears incomplete, but the projected support zone should provide a favorable environment for stabilization and a subsequent rebound. Near term, as far as pivot at 6852.65 stays intact, expect the Index to extend lower.