ES-D-1-27-2020-8-20-am

ES - most likely that is just a temporary pullback before another push higher

This count suggest that emotional drop is just a temporary minor wave -iv – down but not the start of a bigger corrective wave ( iv ) down. My main problem with that count is that subwave -c- of wave -iii- = 100% of subwave -a- of wave -iii-. Normally subwave -c- of wave -iii- stretches at least to 123.6%. The problem is I do not have any better count for ES at this point. I do not see any reliable topping pattern here and I believe that drop is not start of any major correction in the market.

ES - Daily chart updated at 8-30 AM on 1-27-2020

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