I've been having this vision lately. Just of the part in the movie E.T. where they're all on their bikes, peddling toward these cops with guns, ready to shoot. But Elliot keeps going, because he is connected to E.T. and they are one in a sense. They're abiding in each other.
Elliot was trusting E.T. to do something. He didn't know what he was going to do exactly, but by the expression on Elliot's face, you can see E.T. is communicating with him on a different level. And at the last moment, they all rise into the air, flying above their enemy.
Some would say that is corny. I happen to like it.