BORING!...thats about all you can say about the stock indexes today. ES had a 4.25 point range for the entire day after the first hour. This is more than likely a 4 of C with 5 yet to come. If price trades inside 918.75 (wave 1 high) then the count will be wrong. 4's are very difficult to trade due to the fact that they are generally complex corrections (means they have a combo of patterns - zz's, flats, triangles). Its best to just avoid them and find a different market to trade.

I have a Bid/Ask Volume indicator in the 2nd window pane (courtesy of my good friend PTemini over at www.mypivots.com ). This indicator captures the volume at the bids and asks. I have it set to 100, which shows me the cumulative amount of all contracts that are 100 (orange) or greater in size throughout the day. Notice the divergence as the day proceeded. This shows that the bigs were distributing into this consolidation.



Well the channel line (cyan) held, so far. I've drawn a new channel line (magenta) for C (white) up. It is only good if 4 is in fact done.