Here is an updated version of my longer term bearish TD ABCD in ES:





It has some drawbacks (especially the impulsive look of the potential BC leg) but the decisive break beneath the rising TL should confirm it.
Otherwise the rise from early July low might develop into a bigger ABCD itself:

Originally posted by jarek

This clear retest at .886 suggests that bulls might be done for now with yesterday's 1.128...

That's the dream, anyway...

Agreed - downside continuation now in question.

... unless my ABCD above was just an AB leg of a bigger pattern:

Notice, though, the bigger ABCD at today's LOD. 'A' point right before yesterday's close. A big GLOBEX ABCD. First push up, and then a 'W2' like pullback, and now up strong? That's one possibility...

Of course the reaction so far for this 'W3' isn't right, but sometimes it takes awhile to clear out the 'W2'. We'll see. I rather suspect this nice ABCD will fail and it will correct more, but you never know.

I'm still looking to the downside until this .447 gives way.
I'm not sure if this correction can still be deemed as ABCD:

At the point of your capture I think it still is an ABCD, but if it doesn't roll down in there, it's too late. I'm thinking this is starting to act like it is about to break to the upside now and become a 'W3' off that bigger bullish ABCD. It has to happen in here soon, though.

Notice crude breaking to another new high for the move. Sure doesn't look like deflation to me...

Last resort for the bear - an EXP ABCD:

Yes, and this grind is exceedingly dangerous to hold, as they could slam it hard any second and really shake it up, even if they intended to move it up after.

I guess they will have to be happy to close this near the high tick for the move, and right at the RTH HOD. I know I'm happy with how that coil play played out.