One More $ES Variant

This morning I discussed the possible outcomes of the apparent triangle we are developing.

The final version I discussed was the possibility that it could break down, as opposed to the more expected break up. But, I did not depict that visually, as I didn’t immediately see what that could look like. But, I have something now. If it does break down, I suspect we’re simply in a larger “2,” and that this triangle is the “B-Wave” of that 3-wave pullback. A suitable place for it to stop (if it even does break downโ€”that is unknown) would be about 4030, which is also the 50% retracement of the advance; so, all of that would still look very “two-ish.”


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