$ES #ES #trading setup #Elliott Wave
Note how break under 5,690, the stop for bulls triggered acceleration of the decline:
I think ES completed a micro wave -iii- down on Wednesday. I also I think ES has started a corrective -a-b-c- up structure of a micro wave -iv- up that should be followed by another push down in a micro wave -v- down targeting the Green Fat Demand zone.
Now let me show where that Green Fat Demand zone came from:
This is where that Demand Zone 5,440 – 5,400 came from (you can see a congestion formed by a range bound market back in early June 2024).
Bulls will have a good setup to start at least a large bounce off the Green Demand Zone.