Wednesday’s trade did not offer any changes to current analysis. What I did find a bit interesting is the pattern over the last two days in a “second verse same as the first” fashion. Both days the ES reached sessions high early and then proceeded to sell off. Today a bit less than Tuesday. This doesn’t change my expectations in that I’m looking for the small wave ‘c’ decline to finish the wave 2 correction and set the stage for the larger rally to pick up and make a successful break to new highs. Fibonacci support for the balance of the minor wave 2 correction remains the same.
June 10, 2021