ES

ES started the day off retracing its globex gains before finishing off its B leg at the 61.8%. It then spent the remainder of the day drifting higher with little retrace, in what appears to be a C leg. Very nice range today at 32.25 points. Volume came in a little better than Friday's. I believe we had a 90% upside day. Very bullish day all around - imo.

If my assessment of the structure is correct, then we should be very near to completing WXY to finish B up. Notice that price hit some nice fib resistance at the 897.75 H, not the least of which, was the 50% retracement of the 928.25 H. We should know very soon (tomorrow) if this count is correct. My alternate is that we have completed 1 and 2 and are working on 3.

Just noticed that closing $ticks were +1099. Remember the days (last fall) when that meant 70-100 handles!

They were buying (covering) today. +42K is nice, but not huge by any stretch. Been awhile since they drove it to R3. Job well done GS!