$ES1! Wyckoff Accumulation

Strong bearish divergence on the Daily RSI suggests Phase C is next.

Confirmation of Accumulation Setup:
ZigZag down
Immediate Spring, followed by a Higher low
Aggressive show of strength up to confirm Phase D

Phase Descriptions:

Phase A: Markdown/End of Initial Downtrend
Phase B: Building a Case. Building the thesis of whether we are entering further upside or downside. (Accumulation vs Redistribution)
Phase C: Final Test
Phase D: Buyers Dominance
Phase E: Acceptance

Definitions:

PS: Preliminary Support
SC: Selling Climax
ST: Secondary Test
AR: Automatic Rally
LPS: Last Point of Support
SOS: Show of Strength, sometimes referred to as BU (Back-Up)