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ES needs one more low to complete a nano structure of the subwave c of iv down
In flat corrective structures we have three waves, a, b and c. And the final counter trend wave c has to be subdivided into five micro waves. ES is a perfect illustration of that clear subdivision (focus on waves labelled with red letters). It needs one more push down to complete that c down. That push down may complete a corrective wave iv down and set up a stage for another rally to a higher high in wave v up.