$ES Two Bear Counts, Overlaid

I see two possibilities here for $ES:

  1. A nest of ones and twos (the “red” count, minor then minute degrees)
  2. A leading diagonal (the “blue” count, all minute degree waves so far)

The bulls will want to see my minute (blue) 1-2-3 as an A-B-C, but for that to work, they will need an impulse wave off Friday’s lows, and they sure don’t have that, so, I can’t even really imagine a bull count here.

  1. If we fail around the orange box we’re in now but find support near the September highs, the leading diagonal is probably what we’re doing and we should expect a long, drawn minor (green 2)
  2. If we crash deeply below these levels, especially overnight, the nest is more probable

ES


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