ES

ES is following the same pattern again today...early action then it puts you to sleep. The C leg has played out as expected. Looks like it has finally broken its down channel and backtested it successfully. Is C done? Not sure, but the fib relationship is there. I'm currently long in hopes that this EWT flat has played out completely.

Edit: stopped out



Here is an updated chart that I posted last night. The bearish wedge did exactly what it was supposed to do - breakdown.










Another reason to think our down action is about finished. Nice RSI divergence down here.