#failed rally
I think its too early to bury the “one more push higher” scenario:

ES-mini 120 min chart
That micro bullish “one more push higher” scenario is based on the assumption that the move up we got in the first part of August was a corrective wave ( b ) up that managed to make a higher high under the bullish Running Flat or Expanding Flat structure.
Let’s look at the Month Opening Range:

ES is quickly dropping down to the broken Monthly Resistance 6,371.75.
Bulls should try to stop the drop at that level.
If that level gets undershot and the subsequent bounce back up to that level would fail to break back over 6,372, that would be a short setup for a drop down to the Monthly Support 6,239.50.