ES

Es overcame early weakness to finish positive - thanks to the eod ramp. Range was 13 handles and volume was slightly better than yesterday, but still below average.

Anybody who looks at a chart can tell you that we are wedging. I posted a chart earlier showing the ending diagonal and this is the same chart updated.

Whenever you have overlapping waves that are unclear and confusing, you are correcting in some fashion. That's exactly what a diagonal is - a correction that makes progress (up or down).

If my assessment of structure is correct, we will more than likely complete the current pattern soon...like tomorrow or Thursday. This will finally complete minor A (hopefully).

I suspect that we will see "throw-over" and (e), or (v) if you choose, will break the upper boundary line. The number I will be keying on is the 1010.50 level.

This is the 78.6% projection of (c), as well as, the 200% extension of (c)(d). Notice that the (c) leg ticked (a)'s 78.6% projection. There is no guarantee that price gets that high, or is it a requirement of any kind.

What we don't want to happen is for price to print 1015.75. Doing so, negates this pattern as (c), or (iii) if you choose, becomes the shortest wave. That's a rule breaker folks. It also starts VO scratching his head trying to figure this BS out.

Just get done with A already...geez. The never ending A leg. That's what happens when you have a manufactured rally.

This is a comprehensive look at the entire structure up from the 865.25 L. The July 15th gap is the yellow highlight.

The blue retracements assume that price gets to 1010.50. Wherever and whenever A completes, I will adjust the fib ratios as needed.

I'm hoping at least they can get it back to the 4th of lesser around the red 965.25.

We have nice divergence - which is not unexpected.

The smallies, collectively, were not committed to buying this pig today.