There's nothing decisive either way in ES at the moment, so all counts shown for SPX on Friday would seem to be still in play.
Here's a 5 min chart of ES:
Its pretty much the same count as I posted on Friday before the open, except I've changed the labelling of the siedways move from the wave i low to W-X rather than A-B, but it could be either.. This count lines up with Option 4 on SPX posted on Friday and suggests some more upside before we head down in a 3rd wave. However, beware of the counts I've shown on SPX on Friday that have more immediate downside potential, because we are either in a 5th wave down (see the alternative on the Option 1 chart and the extra 1 min chart) or (even more bearish) in nested ones and twos to the downside (see the Option 3 chart)
The alternative double zig zag count relates to SPX Options 2 and 5 (see Friday's charts here) and requires a bit more upside before we move down in wave (C) of [Y], but as suggested on the main counts for those Options, a single zig zag may have completed already, in which case, I wouldn't expect any further downside. So, Friday's low is, for the moment, the level to watch here.
