Friday’s trade was somewhat revealing in the ES.  The market did drop under 4596 reaching 4590. The failure of the ES to close on a hourly basis kept alive the potential for a stronger rally on Monday.  Sunday’s Globex session, though seems to have sealed off the upside route for now and negated additional new all time highs for now.  I have updated the Elliott count and labeling to reflect again a shift from of the alternate view becoming the preferred view again.  This also suggests that the orthodox high for the ES remains at 4740. It is at that level I have labeled it as the completion point for the Minor and Intermediate 5th waves.  The low at 4492 then becomes the completion point for a Minor wave ‘a’ with the rally to 4743 being the completion point for Minor wave ‘b’. Thus the ES is now dropping in a Minor ‘c’ wave decline and will contain 5 waves down of minute degree.  I have updated the count and also included additional Fibonacci extensions to trace the development and possible completion points for wave “C”.  Wave “C” would also be expected to take out the low of wave “A” with support beginning at 4496, 4437, 4400, and then 4343 to 4321.