ES- the upward move may be over

It seems that SP500 has completed the corrective move near 50% retracement, structural resistance and w=y measurement. Price has been contained by parallel channel, which would mean that the surge was not sufficiently strong out of the bottom. Usually bull surge out of the bear market is relantless with no or shallow retracements.

Keep in mind that this corrective move could only be wave A of a more complex structure, but in any case the bull potential seems to be waining right now.