Early today, we show the possibility of the 1,263.45 "clue line" respecting the third EW rule( wave 4 can't surpass wave 1 territory), so our "bullish count" could still be in play with minor wave 4 in place and minor wave 5, up, in play. Let's see what happens later.
$ES_F: EW count and forecast. Bullish setup of last push up theory(before the big and real downfall)
60 min chart
15 min chart
We are calling, since last months of 2011, for a BIG downfall to 600 level or less as the end of cycle wave 2. Also, we have been calling for a last push,up, as a minor wave 5 to complete intermediate wave c of primary wave B of cycle wave 2. We are near of the test of this last bullish setup call at 1,263.45 because, IF this level is broken, then the odds will favor the downside. We will watch carefully.