ES/SPX finished its interim impulse to the projected target based on my prior idea to around 4325 before a price reaction was seen. However, I am still not ready to open a large short position as the market could chop around today/tomorrow due to FOMC.
My trading plan: 1) Looking for failure of support 4250, go short 2) Break yesterday high, 4325, go long for extended impulsive wave.
Should know in the next day or so what the market wants to do. Look for market weakness, price / indicator divergences and topping patterns.