On ES I can count 5 waves up from the 2/25 low at todays high. As usual with Elliott, there are alternates, particularly the possibility of an extension. But I'm seeing technical divergences all over the place, including on a proprietary indicator I've been tracking for some months now (TBA - am close to going public with that). Plus this is the 11th (ELEVEN!) consecutive up close on the ES and maybe the NYSE (haven't checked), odds of at least one down day are getting astronomical. Watched all day for a place to short the rebound from this mornings drop, but didn't see what I was looking for until the last hour and decided to hold off until I see what "ramp up" Monday looks like.
The icing on the cake here is that a clear 5 waves up can also be counted from the low of Feb 5. As with above, there is the distinct possibility of an extension on this move, especially since the 5th wave here is longer than the 3rd. Time will tell on that, but for the immediate future some type of breather certainly seems highly likely. Chart of the rally from Feb 5 has to be daily due to 20 day limitation on TOS for less than daily charts, but waves 2 & 4 do alternate and wave 3 is not the shortest:
