When I went back to pick apart the subwaves into the bottom yesterday, it left me two possibilities. Since I would rather be more cautious about looking to the short side too soon, I want to note the more aggressively bullish potential so we are not caught flat footed. These are the potentials I am watching today, with a break down below 2070ES being a signal that wave 4 has topped.
But, even assuming that we do get a full 5 up in the yellow alternative, we would need to take out the high we make for the 5 waves up to consider the bottom for the b-wave being in place, and us being on our way to 2150+.
In summary, a break below 2070ES begins the process to a lower low, which turns the bigger pattern immediately bearish as the primary, as long as we do not double bottom at 2043SPX. However, a 5 wave move up which completes between 2080-2083ES can either be wave i of the move to a higher high, or the top of a 4th wave. The pullback from that level should make things more clear if we get that higher high.
I know this is a bit complex, but I am just trying to be careful and avoid whipsaw by shorting too early