$ES #ES-mini #trading setup #Elliott Wave
Bears failed to trigger a bearish move. This morning CPI came out slighly cooler than expected and bulls pushed ES to a new higher high:

This move up off the April 2024 low looks like a micro five wave up rally. Under the Harmonic Elliott Wave theory, the final wave (v) up should be composed of two legs up, subwave (a) up and (c) up. Therefore, the only viable wave count I have at this moment argues that this five wave move up off the April 24 low is a subwave (a) of the wave (v) up that should be followed by a corrective pullback / flat consolidation in a subwave (b) down of wave ( v ) up:

There are two main micro resistance levels: 5,430 and 5,454. I expect bears to turn ES down off that Red Box drawn on the first chart above and push it back down to 5,340 with potential extension lower down to 5,305.