Can The Market Muster One More 5th Higher?

With the IWM giving us two really nice set ups for day trades yesterday and today, the ES has only stagnated.   Does that mean the ES has topped?  Possibly.   But, it has not confirmed that potential at all.  In fact, it has even given us a potential 1-2 set up which can take us to 1816-1823ES.  But, it needs to hold 1798.50 to do so.

So, until the ES can break down below 1798, and then 1791ES, we have no confirmation of any correction having begun, and it has left the door open to one last 5th wave extension.

Enjoy your holidays, and I will see you back here on Friday.  :)

 Elliott Wave Chart