Wednesday’s trade fell neatly within the current Elliott count. Included today are updates to both the preferred and alternate counts. The preferred count remains that the market is moving high in a minor 5th wave which should ultimately take the ES to new highs. Currently within the new wave 5 structure it appears that wave 1 is complete and wave 2 nearly so. To complete wave 2 would need to put in a low under 4153. There is a small support zone at 4147/4143 which should contain the move and complete it. Both the preferred and alternate counts would suggest that once complete the next sequence “up” will be a 5 wave structure. The difference being that under the preferred count I would be looking for new highs above 4211 while under the alternate count I would not expect new highs. For I’m looking to the market to tell me which is taking place.