Weekly Update: 4256 Remains the Next Target Down

The area of ES 4256 is welcoming to all who have a trading thesis. Whether you're bullish or bearish, that remains the short term target for SP500 Futures. Once that level is reached, it becomes a jump ball.

In the above chart you'll notice an impulsive 5-wave count down labeled in BLUE, and an orange count labeled abc with an arrow pointing higher. The 4256 area is of the utmost importance. The outcome of bouncing or failing decides the direction for the remainder of 2023.

Enjoy your Labor Day Weekend.
Best to all,

Chris