Upon further examination and deeper study of ES (e-mini SPX futures), I cannot rule out the black count. And the black count would have already completed the requisite fourth wave. So that's one reason I'm stepping back from the "needs more fourth wave" call (though I still slightly lean that way).
The other is COMP, which I showed last update and which looked like IT needed another high... and it still kind of looks that way, but whether it does or not, COMPQ and SPX haven't exactly been moving in lockstep, so SPX does not need to follow.
In conclusion, this is a low-confidence market right now and I'm struggling to find anything that's high-confidence actionable, so the best we can do is know the options to have a jump on them as it develops. Trade safe.
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