Wednesday’s trade started as the last five sessions with a quick pop to new sequence highs and also to the next Fibonacci resistance level at 4529.  Once the high at 4532 was established the ES did an about face and dropped just over 16 points with Fibonacci support at 4511 holding as well as the 20 MA also at 4512.  While this low may have completed a small corrective phase, I have relabeled the minute waves within Minor wave “C”.   While I believe that additional upside is coming, I can’t just yet rule out that the small corrective wave 4 is complete — therefore we may see an “inside” day whereby the NQ remains in a “wedge” pattern as it forms a zigzag pattern to complete wave 4.  If a triangle pattern is forming the triangle would finish with a thrust higher to kick of the resumption of the advance.  Continued support for wave 4 remains at 4511 to 4501, with potential to drop to just below 4500 to 4494.  Along with the relabeling I have also included additional Fibonacci extensions.  Ultimately my expectations remain for the ES to reach the all time high at 4549 with strong potential for the rally to reach above 4600.