Most are probably asking where the hell we are on the roadmap... Well based on the ES and patterns, my conclusion is that we are in a slew of 3 wave patterns overlapping one another. This can only mean one thing. CORRECTION... What follows a correction is an impulse, therefore a warning sign must be sent to those who think they can try to make money on the long side as they wait for that turn to come. Preparations must be made for the bigger picture and we should look to the downside which our MAIN-TREND is confirming at this very moment.
The chart below of the ES illustrates 2 counts. No matter the count whether done or not has implications of more downside risk.
The YELLOW option in ABCDE are made of 3 wave patterns which could have ended at yesterdays high in the SPX, ES and other Indexes.
The GREEN ABC is another option where the 3 wave patterns subdivide to give us a rolling pattern, and could continue higher. Sooner than later though one must ask themselves if this is the risk they are willing to take to squeeze out a profit for that short-term move up.
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