ES - count that aligns S&P cash index with ES-mini
This is a count for ES-mini that 100% matches the 45 min chart by SPX.
We are looking at a topping wave A of 5.
That wave never can produce a sustained breakout over the top of wave ( iii ).
It normally stalls a bit under or a bit over the top of wave ( c ) of ( iii ) up.
ES-240 min chart updated at 9.30 PM on 6-20-2019
Below is a 45 min chart of SPX I keep posting since June 3rd. And since then I expected that this rally will finally retest the high made on May the 1st.
SPX-45 min chart updated at 9.30 PM on 6-20-2019
And below is the model of the Five Wave Up fractal as aligned with ES mini / S&P. According to this count the rally started off the low in Dec’18 has not yet completed.
The top we got on May 1st was only wave ( iii ) and the following pullback was a corrective wave ( iv ) down. And off that low made on June 3rd we need to get wave ( v ) up structured as ( a ) – ( b ) down followed by the final rally in wave ( c ) up that should make a new all time high over 3,000. ES can stretch a little bit higher making one more nominal high just to make us lost in the count. But this rally in wave ( a ) of ( v ) has had enough waves to considered complete. From here we should get a corrective wave ( b ) down that could retrace 50% – 61.8% – 76.4% of the rally started at 2,732.75 on 06-03-2019.
The Model Five Wave Up fractal aligned with ES-mini as of 6-20-19
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