$ES #ES-mini #trading setup #Elliott Wave
In my Monday update I shared a path that allowed bears to push ES-mini down to 5,578:
Today ES-mini dropped down to the Green Demand zone:
That drop may be counted as the final subwave -e- down that finishes a corrective wave -iv- down shaped as the Expanding Triangle corrective structure. Bulls have to stop the decline at 5,564 – 5,550 and turn ES back up. Bulls have a setup to start another leg up.
Break under 5,550 will most likely mean that some much more bearish scenario is in play.