ES likes to take us for wild rides. Yesterday was a strong, outside reversal green candle. Trading wisdom would have it that there should be follow through the next day. But ES doesn't care about trading wisdom. Instead, the Bears came to the party and protected the 78.6% retracement level that we talked about in a previous post. As the first chart will show, we are not done with the W4 count yet, but it's close. We have a line-in-the-sand that is nearby. Let's see if the Bulls can defend.

Just so we can be Fair & Balanced, let's look at what the Bear count is that they are excited about. We could title this chart 1, 2, 1, 2 ... This count anticipates a major crash in the market ~ and soon! If it happens, I plan to go along for the ride, but I'm not going to book my seat on this train quite yet.

We don't provide a day trading system. I am a probability trader that has modified a system that gives you an opportunity to learn to fish. The value we provide is in understanding setups and managing risks. However, there are times when I will give you a fish and other traders here will do the same. Also, please remember that this is about probabilities, not certainties.

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