Tuesday’s trade followed thru on current analysis as the Minor 3rd wave down continued. Within Minor 3 it appears that an additional series of small 4th and 5th waves is needed to complete the Minor 3 sequence. Once complete the ES will still need an additional but a bit larger series of 4th and 5th waves to complete the Intermediate wave 3. Expectations then remain for the larger Intermediate wave 3 to reach support at 4217 as a minimum with an additional zone starting at 4157 to 4060 which also has an equal probability of being reached.
September 28, 2021