Wave 3 in progress today. On the NYSE Total Volume was on the light side, but market statistics were solid with Advances to Declines at a ratio of 5:1 and Up Volume to Down Volume at 13:1, not super strong but very respectable. The bearish Door #2 alternate discussed in the Weekend Update is hanging on by the thinnest of threads, as mentioned if the ES prints above 1129.50 that count is gone, but with today's action I would say it's pretty much out the window already.
Covered ES shorts this morning and went long @ ES 1115.00. Could have been about 5 points lower but I got stubborn and missed the entry (see the update post from this morning). At any rate, holding long with an S&R at ES 1099.00.
Vindicator Buy Line is confirming the rally - it's holding at strong levels. The 30 minute V Stoch went to overbought levels at mid morning which led to no more than a temporary pause to the upward drift. Altogether a pretty bullish day.
As usual, there are lots of possible Elliott alternatives and I'm not necessarily married to mine.
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