$ES #ES-mini #trading setup #Elliott Wave
Yesterday I noted that bulls could start a new leg up off the weekly support 5,511.
ES-mini turned up and then broke over the key resistance 5,541.

Let’s check how that chart looks like after the rally:

We should treat the breakout level of 5,541 as the key support.
The wave count considers this move up as a subwave -a- of wave -v- up that can stretch higher up to the previously made double top ( 5,588 – 5,585) turning it into a deceiving triple top pattern. We can get a shallow flat a-b-c- down consolidation off that triple top following a legacy cup-n-handle breakout pattern.
Upon a corrective consolidation under the next breakout level 5,585 we can expect another leg up in a subwave -c- of wave -v- up targeting the Red Box 5,621 – 5,654 (preliminary target that will be confirmed after consolidation under the resistance 5,585).