Evening Update (Early): To "b" or not to "B"

I'll make this clear, concise and quick.

PURPLE
If we retrace to at or above 3969....Purple is confirmed. 3969 would be the 50% retracement of wave 3. Now the impulsive count would not be invalidated but probability wise this is not a wave 4. This would be an ABC. The Purple count will not get to and below 3788.

BLACK
If price gets to approximately 3930-3945 and then retreats again to take out 3901.75 and goes to the area of 3880-3885 and begins to retrace higher over the course of the next day or so...this would be a clean 5-down and 3 up for a 1-2 down. This would point us to the mid to low 3700 minimum.

www.tradingview.com/...-ES-Micro-1-19-2023/

In an abundance of caution I closed my short put position for about 80% of the premium. For accountability purposes, I posted that in the comments section of my morning update.

I will be off the desk tomorrow unless the "DoDo hits the fan" (which I do not anticipate)....I'll post again in my weekend update. I'll still answer DM's and Comments.

Best to all,

Chris