$ES #short setup
The rally from October 17 forms a clean a–b–c corrective advance, which I label as wave (y) — the second leg up within a (w) up – (x) down – (y) up structure:

ES-mini 120 min chart
There are two possible scenarios:
(i) A tricky scenario where bulls first push ES to a new higher high slightly higher than 6,810. Then we get a brutal bearish reversal followed by a break under 6,787 breakout level. That would be a powerful “failed breakout” short setup.
(ii) Direct Breakdown under the daily pivot ( 6,758).