The most obvious counts are (1) a bearish five-down from the April high ended at the June low (Chart 1, pink) and (2) a bullish ABC correction from the May high ended at the June low (Chart 1, black). Please see the [710am entry] for minor bearish alternative counts (wedge, triangle, flat).
Chart 2 presents squiggle counts on SPX since its late May high.
[1230pm] SPX squiggles -
SPX squiggles since its late May high. See the 2nd chart below.
[1125am] ES squiggles -
Potential five waves up from the low in ES. ES is approaching w5 and w1 equality. see chart.
[710am] ES update -
Chart 1 shows the larger tracking counts. Top counts are
(1) at least a near term low is in (green, blue, red) (2) the wedging lower is yet to be completed
Minor counts are (1) B wave consolidation is still in progress - triangle, expanded flat (blue alt)
(2) The green [c] is itself a bullish terminal triangle still developing.
The more exotic counts are based on the recent visual three-wave decline from the May 30th high.
Chart 2 shows the squiggle counts from the nominal low.
