$ES Bull/Bear Alternate Counts Updated

As suspected this morning, the developing triangle on $ES has proved to be a relevant structure, as it’s just where we stopped at the lows, and just where we came to at the close.

If you’re bullish, you want to see us push through this and overtake prior highs (I personally think it will).


If you’re bearish, you want to see it turn around here and become the “e” wave.


The equity PCR got a huge spike today, the highest since last October. Decidedly over 1.0, and amazingly, this spike happened during the rally. It would appear that everyone is hedged.


And yet, the $VIX is coiled as tight as I’ve ever seen it, above the Great Sven Wedge.


We should see a powerful resolution to the market’s ambiguity very soon now.

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