Monday’s trade took the path of the alternate view presented on Sunday’s update. There was additional downside but it was limited and the buyers returned and drove the ES back towards the current all time highs. I am keeping open the potential for the “b” wave of the corrective wave 4 to still be in progress and reach an additional high above 4186.50. Additional Fibonacci levels and break points are included tonight along with a new “alternate” view which suggests the Intermediate wave 3 remains alive with a smaller minor 4th wave correction in play now or possibly complete at the 4115 low from last Thursday. Again additional Fibonacci levels and break points are included for both the upside and downside.
April 27, 2021