I don’t have a ton to say yet on $ES. The bounce looks like a good impulse wave, nice and thrusty, no overlaps. It could be a “1,” or it could be an “A” wave:
- If a “1,” the pullback today was deep enough for a 2, in which case we should have an even larger impulse to the upside, or
- If an “A,” we could co deeper for the B, then head up to the C.
The strength of the move up, if we get it should hopefully help us to determine which of these two is more likely.
Note: When my work is first published on this website, it is made available to patrons who support my work through my Patreon account. Over time (usually after a period of a few months), I make the work public. To gain access to my work when it is produced, please consider becoming a patron. More information may be found on my About page and on my Patreon page.