$ES: The Accelerated Part of this Rally is About to Top

$ES #ES-mini #ElliottWave #trading setup

I count this forming top as a top of a subwave (c) of wave (iii) up, the peak of the accelerated part o the rally but not the TOP of the whole rally.

I expect the wave ( iii ) up to top at in the Red Box or inside the Red Box. Based on 176.4% and 200% extensions of the subwave (a) of wave ( iii ) up we can expect this rally top in between of 5,639 and 5,671.

For this five wave up structure to top we need to get a corrective wave (iv) down to be followed by a wave ( v ) up making a new higher high. The most common target 1 for a corrective wave (iv ) down is the low made by the previous pullback of one degree lower which was 5,502.75, the low made by a micro wave -iv- down on Tuesday July 2nd (the upper edge of the Green Zone).

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