The answer posted above is incorrect - the correct answer is E.
Imagine the arrow as the hour hand on a clock. Its position corresponds to the number of sides in the shape (3 o’clock for the triangle, 1 o’clock for the ellipse since it has one side).
Thus the possibilities in the answers are B and E.
We eliminate B because it has a black dot in the center. That leaves E as the correct answer.
The number of black dots in the pattern alternates 2-1-4-1, which I would guess corresponds to an odd/even alternation. But they aren’t necessary to solve the problem correctly.