My ideas for a sequel
Elliott and ET both seemed to have healing powers in the first movie. I think there could be a sequel where either Elliott and/or one of his children are sick and ET comes to try to help them fight the illness. I also think that any of the living members of the original cast should have either parts or cameos in the sequel. They could come to the hospital to visit whoever is sick or they could be doing some kind of triathlon since bicycles would be used in at least part of the sequel.
I think there would have to be these elements:
Product placement of candy
Bicycles in at least part of it
A modern device that could be transitioned into a modern communication system
I also always thought that the mom ended up marrying keys. They seemed to form a connection in the first movie.
Anyone else want to help me write a screenplay? :-)