Dating back to March 2020 the start of this power trend move the longest downside/correction length is a month. So from January 4th 2022 to 24th (Day after Jan OPEX) would be considered as the downside. IF the anchor Vwap is in play as the Vwap High was rejected a few times and Vwap Low hasn't had a 1st touch then the range is in between until one side breaks out. Downside if new lows under Jan 24th's 4212.75 is made then possible March OPEX will be around /ES 3992 - 4000. IF trend stays intact then target is around 4730 - 4760 before a pullback for wave 2 setting up right around when Federal Reserve's Interest Rates catalyst. So far price has been playing into Fib levels and I assume it will continue to do so along with the anchor vwap.
Updated targets