S&p500 holds 7250ES as wave 2 count stays open

The s&p500 structure was reassessed on Jun 10th, 2026 after new information from the prior day, and the analyst said the market still had to stay above 7250ES to keep a broader wave 2 count alive. A drop through that region would shift the setup toward a deeper third-wave decline in the (c) wave and point below 7000ES.

Jun 10th, 2026 setup

The analyst said the market rallied in the later afternoon on Jun 9th, 2026 to the.618 retracement of what was viewed as wave 1 down. That rally could be counted as a 5-wave structure, which left open the idea that it was an a-wave of wave 2 rather than a completed corrective move.

Overnight, the market pulled back, and the analyst said that move might have been a b-wave. The rally into the morning high on Jun 10th, 2026 might then have been the c-wave of wave 2, with that high labeled as wave 2.

7250ES and 7000ES

The analyst said the day’s rally did not count well as a 5-wave c-wave. Because of the two rallies, the probability that wave 2 had already completed decreased, and the current action forced a bigger door open for the bigger (b) wave in yellow.

The line now sits at 7250ES. The analyst said the market needs to remain over that level for the broader wave 2 and the bigger (b) wave in yellow to stay in consideration.

If price breaks below the 7250ES region, the analyst said that would suggest the market is in the heart of a third wave down in the (c) wave. That structure projected down below 7000ES and would take the market deeper into the (c) wave support box.

For traders following the ES count, 7250ES is the level that keeps the broader corrective path open. A break below it would favor the faster downside path toward 7000ES instead.