$ES #ES-mini #trading setup #Elliott Wave
ES-mini follows the path posted in the evening update:
In the evening update I noted:
…“Note that 4,544 used to be the target 1 for the drop, a support that failed. Now that same level works as a strong resistance.”
ES topped at 4,547 overnight and turned down as expected.
It has approached the Green Box pre-market.
The encouraging sign for bulls is that the overnight decline has a clean a-b-c micro structure, an attribute of a corrective wave -b- down.
If bulls manage to stop that decline in the Green Box they will be able to start a strong impulsive five wave up rally in a wave -c- up targeting the Red Target Box.
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