ES: Hit the Buy Point and Turned Up As Predicted

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$ES #ES-mini #trading setup #trading futures #bullish reversal

In the previous update posted yesterday I shared my expectations for bears to make one more push lower:

“Ideally I would expect ES-mini to make one more push lower tomorrow to complete a clean five wave down micro structure of the red wave -c- down.”

That was the expected path posted yesterday:

ES-mini 240 min chart posted on August 2nd, 2023

Note that I expected test of 4,512.50 – 4,511.50 level to be followed by an a-b-c up bounce targeting first 4,542 and then 4,560.

This is how that chart looks like now:

ES-mii 30 min chart

Note that 4,544 level used to be the target 1 for the drop, a support that failed. Now that same level works as a strong resistance. This move up can top at that level and than we can get a pullback in a wave -b- down targeting 4,520 – 4,511.

Upon completion of that pullback in a wave -b- down I still expect another second leg up in wave -c- up targeting the Red Box.

Note that the main catalyst of this week, a Non Farm Payroll data will be released tomorrow at 8-30 AM EST. That dat release can induce several wild swings before the market opens at 9-30 AM EST.

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$ES: Keeps Climbing as Expected

$ES #ES-mini #Elliott Waves As we expected in the Weekend Update posted on Sunday morning, a break back over the

CastAwayTrader March 24, 2025

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