ES

ES had its 5th straight positive day. Range was 16.50 handles on light volume.

I am sticking with my specific count, although I'm pretty sure it's not what structure is forming.

I think something is going on that we wont know till later, which is not unusual. That something could be a lot of different scenarios.

One thing that we can certainly scratch off the list is that minor C completed at the 1038.75 H. Price traded through that level today. I'm not unhappy with that, as I did not like the fact that C was so small compared to A.

We really have to breach the 138.2% extension of [a], which is 1057, before we can scratch my expanded flat scenario off the list.

Regardless, near-term we should continue to stretch a little higher to finish iii. I'm a little unsure of where i should actually be.

There is an issue with 4 - 1 overlap by a smidgen. Cash does not have that problem. It really doesn't matter much though.

We do have nice RSI divergence, suggesting that we need a pit stop real soon.

Starting with tomorrow's update I will be using the December contract.