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ES - has hit the Red Target box overnight

As we expected yesterday, bulls pushed ES higher and tested the Red Target box.

ES has drawn two 4 hour candles with long wick pointing at different direction. That is sign of indecision. Bulls pushed ES too fast and too high and a healthy pullback is overdue.

I continue to expect at least a pullback if that move up was a micro wave -i- out of subwave ( c ) of wave ( v ) up under the Very Bullish Alt count.
But this push higher can be all of subwave ( c ) of wave ( v ) up.

Now it all depends on bears’ ability to break support.

ES - 240 min chart updated at 9-00 AM on 7-01-2021

As we expected, the micro wave iii up hit the Red Target box at 4,305 overnight.

This relatively deep decline can be a micro wave iv down. That micro count let bulls push higher once again as long as they hold ES over the previous low made at 4,281.25.
To confirm start of a bigger pullback bears need to break under 4,281.25.

ES - 30 min chart updated at 9-00 AM on 7-01-2021

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