In the previous update this morning at 8:05 AM I predicted that drop and wrote:

“ES may give us a micro pullback to 2,908 – 2,905 before the final thrust higher in the very final micro squiggle in wave c of v.“

We got the drop but it dropped lower then I expected. The low so far was 2,900.50. It has brokenunder the immediate support on my chart at 2,902. However, there is a scenario where ES still holds potential for another rally to a higher high. If we count that drop as wave c down of an expanded flat corrective structure then it still has that bullish potential.