$ES - Market Analysis for Jan 3rd, 2019

With what can easily count as a micro 5 waves down off yesterday's high in ES, the setup for a trip lower in wave v of C is there if the market wants to take it. It would be a strong statement by the bulls if a sustained break back above yesterday's high was seen instead.

ES H19 - Micro - Jan-03 0704 AM (2 hour)
ES H19 - Micro - Jan-03 0704 AM (2 hour)
Garrett Patten is a senior analyst at ElliottWaveTrader covering both U.S. and international equity indices as well as stocks.