Below you can see a chart I posted pre-market on Wednesday 10-31-2019. That was FOMC day when FED was supposed to announce another rate cut. That count expected one more push higher to 3,050 to complete subwave -c- of wave -ii up. After completion of that wave -i-up I expected a corrective -a-b-c- down structure in wave -ii- down.
Below you can see that ES refused to follow my expected path. On the chart above you can see that completion of the subwave -c of wave -i- up required one more push higher. Instead of one more push higher it has made a corrective a-b-c move down. I was too quick to count that a-b-c down structure as the whole corrective wave -ii- down.
Wave 2 of the Five Wave Up fractal shall never violate the starting point of the Five Wave Up fractal, its lowest from which wave A of 1 started.
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