ES-4-24-19-12-30-pm

I maintain my bearish outlook for the ES. I want to give you idea what I watch on a micro level. Look at this 5 min chart below. Here you see our old good friend “Five Wave Up” fractal but on a micro scale. But regardless of the scale price has to respect its rules. Particularly, wave b of v can NOT break under wave iv down. If that support is broken we may start getting a bigger pullback. Conversely, as long as it holds we may see another push higher.