Monday’s trade was inline with current analysis for the ES.  Initially the market did produce some stronger “choppiness” as buyers and sellers struggled for control.  The sellers did gain the upper hand with the ES producing an additional low under the globex 4526 low reaching 4520.  I have updated the Elliott labeling to reflect what has taken place as the Minor “C” wave continues.  Thus far Friday’s 4590 low completed minute wave 1 with Friday’s high at 4657 being the completion point for minute wave 2.  From this point the ES began dropping in a minute 3rd wave down.  Wave 3 is subdividing with wave 1 of 3 likely complete at the globex low at 4520.  This suggests that wave 2 of 3 remains in progress appearing to need additional upside before completing.  Resistance comes in at 4597, (the hourly 50 MA) and then 4619.  Once complete expectations would be for the ES to again move lower in a “3 of 3” move breaking easily back below 4492 and heading towards next support at 4437.