As price has poked above 5333.50, the bear scenario has officially been invalidated.
I have four different impulse waves from the low of 4963.50 (green ellipses). I see no way to create a diagonal from the price action in the orange ellipse. How these impulse waves will fit together is yet to be determined, but it is likely that ES1! will grind upward for the next several weeks. I will be curious to see how price reacts once ES1! gets to 5382-5400 range; a significant correction in this range will likely be helpful in determining the overall count.
I have four different impulse waves from the low of 4963.50 (green ellipses). I see no way to create a diagonal from the price action in the orange ellipse. How these impulse waves will fit together is yet to be determined, but it is likely that ES1! will grind upward for the next several weeks. I will be curious to see how price reacts once ES1! gets to 5382-5400 range; a significant correction in this range will likely be helpful in determining the overall count.