Yes, I Feel Dumb, Here Is a New $ES Bear Count

I feel stupid, but I continue to see many risk-off data points. In order to count $ES impulsively to the downside, we will need to revise my prior “nest” as price overnight has taken out most of those highs.

As I see it, we would need to turn the local price action into a leading diagonal for minute (blue) 1,  just as minor (green) 1 was also a leading diagonal. This would be a very stealthy way to top, that’s for sure, if that’s what we’re doing here. I feel pretty stupid for insisting at this point, but until I see fewer warning signs, I am reluctant to allow myself to be fooled by price alone.

ES


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