/ES Target

I'm seeing two scenarios shaping up, we have either put in a leading diagonal Wave1 and we are retracing a wave 2 now,or the B wave of a possible ABC correction just completed with an ending diagonal. We are coming up to a critical level, the 50 and 61.8% retracement of the previous wave. We will know in the next week or two which direction this market is going. Keep in mind we have only been in a correction for around 150 days, very short considering the how long the bull run lasted.