ES-5-6-19-11-14-AM

This rally is too strong to be a micro wave iv up. I have to count that ( a ) – ( b ) – ( c ) down structure as having completed overnight. But this structure, in my opinion, is only the first leg down in wave A to be followed by a corrective wave B down. And the rally we have got this morning looks like a wave a of B up. That is not what I expected but the long term trend is up. And this move down is a temporary pullback against the prevailing trend. Such countertrend moves unfortunately often do not respect patterns and do not follow ideal paths.