ES Mid -Term Correction in Play? S+P 500 Down

We have two pretty good EW Counts - A complete eight cycle, followed by a another five wave impulse, meaning we could be looking at the start of at least a short correction Wave 8. Priced touched the 200% fib extension off the last high. Of course we all know we are at an all time high where we have bearish Tweezer Tops and Doji, and also bears divergence with Stochastic rolling over and signal cross low. A retrace to the 38.2 fib - would have the gap completely filled around 2681, for a first target. After that it may very well start back up or you can hold for a bigger wave A down. What ya think ?

Dagangan aktif:

Trade Triggered with completion of AB=CD major, confluence with a smaller 1.618AB=CD on lower time frame, all at the all time high. MA cross and break below previous low. First target is the 38.2 retrace which will fill the gap

Dagangan ditutup: hentian tercapai:

Bullish engulfing and MA cross for 27 ticks. Now we wait for wave B to complete and then enter again to trade wave C down

1 contract 337.50
5 contracts 1687.50
10 contracts 3,3745