$ES #ES-mini #trading setup
Today Es-mini failed to break under the Monthly Support 5,235:

Bears failed to break under the Monthly Support 5,235. Tomorrow CPI Data will most likely push ES out of that range.

The failure of bears today makes me think bulls can capitalize on that failure and push ES higher in a subwave c of wave ( b ) up. Tomorrow we will get a strong catalyst, CPI data. We will most likely get a volatile day and as a result ES-mini will challenge the Monthly Resistance or Monthly Support, or both.
The Less Bullish scenario (the blue-red path): If bears manage to stop the move up at 5,322, then we will expect another leg down in a subwave (c) down targeting 5,175- 5,120.
The Very Bullish scenario (the green lines): if bulls manage to push Es up to a new all time high, 5,340 – 5,353 (with a spike on CPI data), then the next leg down may be a short one and stop at 5,250. That shortened second leg down would be a subwave (c) of wave (iv) down and would make a very attractive long setup.