Simplest Answer

The simplest answer has the red Minor B wave ending in a slight truncation at today's high. The ES hourly chart is shown, below, with all of the correct degree labels applied. For clarity only the ending "c" wave labels are not shown.

Once again we note that 60+ point S&P futures swings did not even show up in the cash market. This was the 'flub' created after White House trade advisor Peter Navarro initially stated that the U.S.-China trade deal was over, requiring his following refutation of that. This wave shows up as the blue minute (b) wave last night.

ES Futures - Hourly  - Minor B Completed?

This upward wave can count as a rare triple-combination to a Minor B wave top. There were two diagonals in this wave, one downward to black minute ((x)), and one upward to blue (a). And, there was one triangle in black minute ((y)) as a blue (b) wave.

Whether there is post pattern behavior that supports this count, or not, remains to be seen. The reason this is the simplest answer is the number of price overlaps that have been created.

A slightly less simple answer would be that, since the latest upward parallel is not broken lower, yet, then the current blue (b) might extend as a flat to make a new blue (b) where the red (b)? is located as an alternate, and a new high might follow but is not required. All the waves needed are here already.

This is currently a very ugly count. Sometimes B waves are intractable like this wave is. Let's see how it goes.

Have a good start to the evening.

TraderJoe