Drives 1, 2 & 3 are practically equidistant ( drive 2 is off by a few points)
Pull Backs A & B are both 61.8% of their respective prior drive.
Both drives 1 & 2 and subsequent Pull Backs have taken the same amount of time to occur. Currently drive 3 has taken the same amount of time as 1 & 2.
Drive 1 occurred at the beginning of 2012 and began its Pull Back at approximately the end of March which resulted in Pull Back "a"
Using Pull Back a & b to project Pull Back c, the ES should retrace to around 1433 , which is also 61.8% of drive 3.
Since this has been a very strong uptrend I am using a very tight stop @ 1566.00 and taking profit @ 1433 or when price action indicates the retracement is over.
Also, comments are welcome, the only way to learn to trade better is through constructive criticism