No Changes to $ES Count, Couple of Comments

No significant changes to the previously expressed views (e.g., here and here).

It’s not clear to me that we have completed minute (blue) 4 on $ES yet. It is preferable to see at least some retracement in price, ideally to the orange box below. It is unusual to not even tag any fib at all on a wave of this degree. If we need one more flush in order to complete the structure, we would interpret it like this:

ES

If I am wrong about us not being done with minute (blue) 4, then it may have completed today and we are in the 5th minute (blue) wave now. A breach of the 12/28 high would suggest this count is in play. I am skeptical of this count because the little orange c in there seems far too trivial to be counted like this.

ES

Leave a Reply

Your email address will not be published.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