Why Do I Bother?

I can’t remember the last time we completed a solid 5-wave, standard Fibonacci Pinball, impulsive structure in the ES/SPX pointing up.  So, I wonder why I even bothered trying to track one of late.  But, needless to say, the decline below the pivot today has spoiled that pattern as well.

At this time, we are left with a potential ending diagonal pointing us to one more higher high, or the c-wave decline.  While I cannot count a solid 5-wave decline to strongly suggest the c-wave down has begun, it is still just as viable a path right now as the ending diagonal.

So, when the market completes this decline, begins a rally, and then should it take out the low we create in this decline, that points us to the c-wave down, which will at least retest the 6550SPX region.  However, for as long as we hold the low we are about to create in this decline, then the yellow count will still remain on this chart as a viable and reasonable probability.

So, as of now, I am 50/50 as to how this pattern will play out in the next couple of days, and will clearly adjust and inform you based upon how we see the market progress into the end of this week.