by Avi Gilburt, ElliottWaveTrader.net
Thursday September 5th 2013
Today was pretty uneventful for the ES. It is possible to count a completed top of wave c of larger A, however I believe the more likely scenario is that a vth wave up into the 1660 - 1664.50 region will still be seen. Since it seems that the majority of market participants are waiting for the NFP numbers tomorrow, I would not be surprised to see a spike up when released into that target region, and then reversal back down towards our B-wave target in the low 1640s. Below 1638 opens the door to more bearish potentials, such as the red wave 5 on my chart, but my primary expectation is that this region will hold. If the reaction tomorrow is extremely favorable, and price blows past 1664.50, then then next resistance level is around 1674. But for now, no reason to stray from Avi's primary yellow count (which is represented by the blue labels on my chart).
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