The proposed green trend line in Chart 1 apparently is significant, as prices have hugged and kissed this trend line multiple times from below and from above.
Note that this is one of the corrective pullback options discussed in yesterday's EOD update - it is now marked red in Chart 1.
The immediately bearish wave [iii]-down scenario is tracked by the blue count.
[12pm] SPX update -
[625am] ES update -
ES retesting trend lines as one of the three options suggests in yesterday's EOD update. See charts.
