Looking for the End to Minuet (ii)

Nothing has changed with the four-hourly chart of the ES futures. Yesterday, we called the end of minuet (i) within a half-hourly bar, and we are trying to count minuet wave (ii), up. Here is that same four-hourly chart of the futures.

ES Futures - 4 Hr - Minuet (ii)

As it currently stands, minuet (ii) is a little over a 50% retracement on minuet (i).

Summary of what we did today relative to this count:

1. We saw the futures had some higher highs in the after hours.
2. When the cash market opened, we looked at a cash chart to see if there was any count that was possibly compatible between the cash and the futures.
3. We saw that, given the three-wave-up structures yesterday, an X wave or a triangle might fit the bill. We published that cash chart in the comments. 
4. We published the hourly futures chart in the comments and below.
5. The hourly futures shows a much cleaner potential triangle. We stated it would not be confirmed however until prices exceeded the high. 

ES Futures - 1 Hr - Triangle X

In the futures, the triangle can be clearly discerned with an ((E)) wave that overlaps the w wave downward, as must occur in a running triangle. We said that the triangle might help burn some time, since, so far, the correction is very short in time relative to the down wave.

Further, in after-the-close studies we can see that the "time" of this up wave exceeds the time of sub-minuet wave ii's 25 hours by several hours. This tends to confirm it is the higher degree wave minuet (ii), in progress.

The wave does not need to go higher. It certainly can go higher. The lower edge of the upward Elliott parallel trend channel should be watched for any breaches to the down side.

Have a good start to the weekend.

TraderJoe