Notice that the market paused each time at ((c)) = 0.618 x ((a)), and ((c)) = 0.786 x ((a)). Note, too, that the market is bumping up against an upper wedge trend line, and there is still divergence with the MACD.
|ES Futures - 5 Hr - Nearing ((c)) = ((a))|
Further, if minute ((a)) is a diagonal, as we first concluded, then all of minute ((c)) should not be a diagonal which it is not. So far, so good.
After charting the wave, above, I have added this one, below, as the shorter term count on the ES 15-minutes. The reason is slippery: be very, very careful of your degree labels. In the futures, the middle wave - now labeled as a very small degree second wave, 2, is too long in time to be a fourth wave. This suggests that brown wave x 1 is the extended wave in the sequence. And wave 3 should be shorter than x 1. And then, if 4 does not invalidate, then 5 should be shorter than 3, and the whole thing should form a wedge.
|ES Futures - 15 Minutes - Extended x 1 Wave of (v)|
Further, within wave x 1, then wave x ((5)) is the extended wave in that sequence. It is very, very difficult to count otherwise and agree with degree labeling. The retrace of x 1, being less than 38.2%, tends to argue for this count, as well.
Have a good start to the weekend.