#ES-mini #trading setup #Elliott Wave #Running Flat
In my Weekend Update I shared expectations for a corrective bounce:
My conclusion was:
“…if we get a bounce up to 4,535 AND if that move up stalls right under the red box that would be a super sweet short setup for a quick deep dive down to 4,415 with likely extension down to 4,385 or even 4,370.”
On Monday ES-mini pushed up in a corrective a-b-c up structure, has tagged the Red Target box making a lower high and then turned down strongly.
That corrective a-b-c up bounce off the low made on Friday afternoon is a decent short setup.
To invalidate the short setup and trigger a short squeeze rally bulls need to push ES over 4,545.