$ES Micro Intra-Day Count

If last night’s rally on $ES was the last hurrah, and the subsequent selloff a first impulse wave to the downside, I am inclined to count today as a two, which may be interpreted like below. If they can breach the top of the triangle, it should produce a short squeeze that can take us to 4715 which is the 78.6% retracement of the prior decline and the subminuette (red) c = a.

ES


[UPDATE]: Ok, we got to the 78.6% fib (with a point). Hopefully we will begin impulsing down soon in order to help further validate this count.

ES


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