Very difficult markets on Monday in attempting to update an EW count. I have left the "alternate" counts in place as presented over the weekend in the Podcast. The ES, however, did move up to an additional new high which on that basis alone would move the alternate over to Preferred, which I have stated. The challenge remains in what the structure is moving forward. In the ES it may be a diagonal 5th wave up - in the NQ it may also be a diagonal, but the NQ did not move to new highs today -- leaving much more open as "to be determined". For now, I'm continuing to look for continued upside before the current rallies are complete.
Disclaimer: Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures ...
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