Last updated: 12/4/2018.
Earlier I concluded “break higher (above ES2690) and major-b is underway, with a failed c-wave down. Above ES2690 and 2800s are next.” And we got even more than that in the overnight futures. IMHO, intermediate-a of major-b is now complete and intermediate-b is now underway and has already reached the ideal target zone. It is of course at this moment unknown if wave-b is complete or not. A move over today’s open will tell it is, and then the slightly higher-adjust target zone for wave-c of wave-b should be next. A break below ES2626 will mean my perspective is wrong. A 5-waves down move off yesterday’s ES2813 high will be the first warning this could very well be the case. For now I keep my perspective as is and will change it when the market tells me to.