A Couple of Ways We May Count $ES

We got a nice channel breach, lending great credibility to this wave as a 3rd. Lots of ways to count this, here are two.

Option #!: More bearish nest.

On this count, whenever we find a real bottom, we bounce somewhat sharply in three waves for minute (blue) 2, perhaps revisiting that trend line before having an even deeper selloff beyond what we’ve seen so far.


Option #2: Less bearish no nest.

On this count, when we bottom, we are finishing the green (minor) 3 and will have a lethargic, sideways consolidation for minor (green) 4 before having another decent selloff, perhaps as deep in price as minor (green) 1 was before we see a sharp rally for intermediate (orange) 2 after we complete the minor (green) count that finishes off the bottom of this chart.


Hopefully the “look” of the structure will give us clues as to the wave degree we’re in, which is so often difficult to do in the early stages of a big selloff.

Note: When articles are first published, most of them are made available only to my Patreon supporters (I do try to publish some public posts on occasion). Over time (usually after a period of a few weeks or so), I make all of the work public. To gain access to my work when it is produced (or to join my Discord chatroom), please consider becoming a patron. Note that there is a 7-day free trial period. More information may be found on my About page and on my Patreon page.

One thought on “A Couple of Ways We May Count $ES”

Leave a Reply

Your email address will not be published. Required fields are marked *