$ES #breakdown
In my weekend update (see the bearish path) I noted that:
…***”Break under 5,251 may be followed by a drop down to 5,110 – 5,000″***.
ES has been following the bearish micro scenario. It violated the support 5,251 and started another leg down:

ES-mini 120 min chart
The path we discussed on Sunday allowed bulls to stop the bleeding at the green box and start a new impulsive rally in the wave (c) up.
As I noted yesterday, that drop can be counted as a subwave -c- of wave ( b ) down (completion of a corrective -a-b-c- down consolidation).