ES

A slow grindy 4th wave kinda day. Range was 10 handles and volume was average.

It appears that we finished minuette (iii) at the 991 L. The waves were not easy to discern from the 1003 level down, but I believe this count works.

The micro degree running triangle is a little speculative, but it allows two succeeding 5's that count.

It sure looked like we had a b wave triangle after the 999.75 H. I can't tell. If it was a triangle, the c leg is very unsatisfactory. It measured 4.50 handles and the thrust went 4.

My guess is that it was a combination flat-x-expanded flat. We should know soon enough.

One thing of note, RSI made a lower low while price has not. Perhaps this is telling us to expect a break lower.

We did retrace 23.6% of (ii). It's possible that (iv) has completed, but I don't believe so.

Bottom line - I think we are still tracing (iv). My alternate would be that sub-minuette iii finished at the 991 L.

Whatever retracement of (ii) we get will setup a intraday selling opportunity.

One more minuette wave down should complete minute [i]. We should see a more substantial retrace at that point.