This is the ES-mini 120 min chart with expected path I posted in my evening update yesterday:
The expectation was to get a decline targeting the Green Target box.
This is how that chart looks now:
Let’s come back to the “3-3-3” model of a corrective pullback we have been following as our primary scenario:
A large a up, b down, c up structure off the low made on October 2nd would complete a large wave X up and would be an attractive short setup for another (a)-(b)-(c) down or (w)-(x)-(y) down structure of wave Y of ( Y ).
Note that the first leg up labelled blue a stopped at 30% retracement of the decline that started at the mid Aug top.
Then, the second leg up labelled c up may tag 50% retracement of that decline = 3,956.