ES

ES closed its 4th consecutive upside day. Range was 14 handles on below average volume.

Anybody else notice how volume has been considerably less on this leg up than last weeks big sell days?

It appears that we have completed a 5 wave structure up (nice RSI divergence). What this actually finishes is up for debate. I show a minute degree [i] wave, however, there are several other alternatives that make just as much sense.

It looks like we have a 5 wave move off the 1067.25 H. At minimum, we should see another 5 waves.

The same can be said of this move off the 1015 L (pit session), unless of course, somehow it is married to something from the left side of the chart.

Perhaps the leg off the 1075.75 H ended at the 1041 L for wave (i) down, and we then have been in a big expanding flat with (c) ending at today's 1067.25 H to finish (ii) up? This would entail starting (iii) of [i] down.

Folks, there is very little chance of this being correct structure. A pipe dream if you will.

If we did in fact end a 5 wave structure higher today, we should see a decent retrace. There are some gaps that WILL be filled sooner or later. A normal 61.8% retracement would take care of both of the 10/6 and 10/8 gaps.

We are slated for a KoolsTools cycle peak tomorrow. This comes from the 9/28 and 10/2 lows.

Time for kickoff. Predicted final score: Black & Gold 98 cornhuskers 0. Yes, I am wearing my 20 year old t-shirt that says "HUCK THE FUSKERS!" :)