ES-Mini Futures may be counted in the following way:
For this to work, we need to see followthrough from here that has the look and feel of Friday, but on steroids. I like that we consolidated in a bull flag and broke up from that, I like the coil on the RSI (green arrow in the chart below).
In the chart below, zoomed out, we can see the two bullish structures that I hope will govern the price action over the coming days and weeks. We remain in the bullish wedge, and within the larger bull flag. The bullish wedge should produce a rally to its origin. But, the typical expected extension for a wave 3 (blue degree) would take us closer to the 5/17 high. It may be that we get that wave 3 there, consolidate, then rally to wedge origin level (red arrow). On the other hand, if the market becomes very bullish we may also go straight to wedge origin just for the minute (blue) 3, and consolidate there, before moving to the top rail of the bull flag to finish green 1. For that, we will have to see.
