Wednesday, 6/6/12 update

Pretty stout move up has developed off the Sunday night lows.  Alternate #2 presented in recent weeks (see Sunday post) has to be given strong consideration at this point.  The drop from the late March highs into the recent low at ES 1262.00 can be counted as a triple zig-zag.

 
Longer term view has the ES in an ending diagonal C wave off the lows of last October with an eventual target around the 2007 highs.

Zoomed out