$ES #ES-mini #trading futures
We can cout the rally that topped overnight as a corrective wave -x- up to be followed by another a-b-c down move in a wave -y- down:
If bulls manage to push ES back over 5,546 that would invalidate that bearish scenario and open the door for a new all time high.
However, as long as bears hold ES under 5,546 resistance they can push ES down to the Green Demand Zone in a wave -y- down.