$ES #ES-mini #Elliott Wave #trading setup
So far bears tested the key support 5,721 twice and miserably failed to break it. That bears’ failure can trigger one more spiky move up to 5,869.

ES-mini Daily chart
Under that tricky scenario a spike to 5,868 may finally complete the -a-b-c- up structure of a corrective wave (b) up. If rally fails at 5,868 bears will get a setup for a drop down to 5,416 (the upper edge of the green box).
It should not be that complex. If bears finally break under 5,721 – 5,711 we will get a drop that would complete an -a-b-c- down corrective structure of the wave (b) down under that scenario:

ES-mini Daily
Under both scenarios I expect another rally to unfold in a subwave (c) of wave (v) up targeting 6,000+.