Primary (Bearish) and Alternative (Bullish) $ES Counts

My primary view remains that we’re more likely to have a somewhat significant top coming in. On this count, we should eventually roll over and head back to the October lows (unless we have a big pink 5 above us, in which case something much worse can happen).

That said, it feels like the market will never go down, and that may also be telling us something: that, despite everything insane we’ve seen, we’re still firmly in a bull market. So, we will look at the bullish alternative below this count, too.

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On the bullish count, we still have yet to see any “biggish” 4. So, we will need to see something bigger in structure to match the structure from the October low (something up here for minute [blue] 4). On this count, that should be happening soon, then a new high (channel strike?) then a bigger correction for minor (green) 2, followed by a rally none of us will be able to comprehend.

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