|Half-Hourly Count E-Mini ES S&P Futures|
- Wave -iii is located at the 2.618 Fibonacci extension, or just slightly beyond it
- Price late in the afternoon traded down below the red line of the alligator indicator
- The Elliott Wave Oscillator (EWO) is diverging
Since wave -ii was a clear flat, as was recognized in real time, then, wave -iv 'should' be a clear sharp (zigzag) or triangle to provide alternation. Wave -iv should try to attack the lower channel line, and it is ok, particularly if wave -iv turns out to be a triangle, for it to break the lower channel line significantly before wave -v resumes in the upward direction.
There are never any guarantees, and price would have to overlap the -b wave for the count to be considered in trouble. For the present, we are counting 'upward' until we can not.