$ES at an Inflection Point

Yes, we are still within the parallel rails (discussed yesterday) so we are technically in a bull flag. However, we have all seen those fail as well. I can see us going up for another high, but, gun to the head, I am more inclined to think this one may fail. I could be wrong about that.

This little consolidation we’re in is exceptionally difficult to count, and, at a glance, one would want to say that the overlapping wave structure ensures it is corrective, but my gut is telling me that it may not be. We can always count overlapping structures as nests, and this could be one.

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