Well, the market decided to go straight to 50% retracement and we hit the 1.5 x A/B target as C. The ES would need to break 1292 to brighten up the picture. After break ES 1292 the next tough resistance is 1203/1204 and major resistance is 1226 /1229 area in ES.
Again, the market remains in down trend below SPX 1245-1260 and this has to be understood. I mentioned it end of last week that NYSI has a sell signal and repeated it over the weekend.
Meanwhile, the hourly chart is extremely oversold and Trin is too high. I would not be surprised if market bounces to the retracement levels indicated in the chart.
I will post later some breadth charts with explanation