The question to be answered at this juncture is whether Major W2 ended at the mid-May low or whether it's still in progress. The alternates look like this:
Bear alternate
Bull alternate
Right now the bear alternate appears to have an edge when looking at timing oscillators (http://wttchartses.blogspot.com/2016/06/intraday-oscillators-61616.html). Also this is a seasonally bearish period. But most importantly, the short term EW count shown on the hourly bearish alternate chart is a much better fit to the pattern. This last week it appears that the ES traced out a running flat, with Thursday's low being the "B" wave of the flat:
