ES/SPX: This was an earlier count first published on July 4

Apparently, this count was considered an alternate count at EWT but has gained popularity as of late. The few counts we have seen are all expecting a wave 2 retracement but so far we have not seen anything that can be classified as a wave 2 retracement. As such, this previously alternate count has gained preeminence because it brings us to the wave 3 of 3 which is considered the point of recognition of the entire impulse. It is at this point that the majority of people will acknowledge that the trend is up. So if it plays out, there could be some of explosive movement up in the next couple of weeks if it stays above 2800.