Just Thinking Ahead Here for $ES

We have rallied hard this month and last, and corrected lightly (at least so far). Those, and other reasons, may force us to stick with the nested bull count, which will give us another high. So let us do that for the sake of argument, because it leads to a point I want to make about the nature of the correction of primary (pink) degree that I am expecting. I think it’s important for you know a specific detail about how I believe it will unfold. I believe this with a fairly strong degree of confidence.

So, first, the nested 1-2-1-2 at the October low count gives us this:

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It puts us in minor (green) 4, which may have completed. This count will give us the channel strike I’ve been dreading (dreading only insofar as these damned things just take forever to finish, and it’s tiresome). After that primary (pink) 3, I am expecting primary (pink) 4. Now, I have high confidence that primary (pink) 2 was a flat:

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And knowing that, we can be almost certain that primary (pink) 4 will be a zig-zag. So, the expectation, when it gets here, is for that large correction to fall as low as the bottom of the orange box below, and hopefully also challenge that channel we’re in. And it should do so in a 5-3-5 structure: 5 down, 3 up, 5 down. It should present us with an amazing opportunity: Ten impulse waves to play to the downside.

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