6 Apr 2016 - Re-test Is Normal

I'm considering todays rally as a corrective wave shown below on the 15min chart.  This re-test also shows price approaching the underside of the blue dotted trend line resistance.  Ideally, tomorrow should push price lower, but need to be aware of a possible extension to the corrective pattern.  A move of the intra-charts into OS condition will negate the risk of corrective sub-waves so watch for this signal.

The immediate support for me is the 200 day MA which has not also been met with the 60 minutes 200 MA (seen on the 60min chart).  A true CIT on an EW point of view is to see a full 5 wave count down which means the likelihood that the 200 day MA would get broken.

SEN: Bullish
ST: DOWN
PA: DOWN

Note: While I have not shown today' ES chart, prices have moved back above the 200 MA on the hourly.  If supported holds then a corrective pattern will be voided.  I expect it to be broken again with the ST in my favour.  Currently the 200 MA value of the ES stands at 2044.96 dynamically.