$ES #ES
In my Tuesday evening update I concluded that we can get one more dead cat bounce up to 5,252 in a subwave (c) of wave (iv) up.
And we have got that pop today:

ES-mini 15 min chart
We got a spiky wave (c) up to a 123.6% ext of (a) up = 5,430.50.
That spiky move looks like a textbook subwave (c) up in a corrective (a)-(b)-(c) up structure of a corrective wave (iv) up.
To confirm a bearish reversal bears need to push ES back under 5,292.
That wave count allows bears to start another leg down targeting 4,500.
To invalidate that bearish scenario bulls need to push ES higher over 5,527 (a 50% retracement of the wave ( iii ) down.