We have a decent-looking five up in SPX/INDU/NDX/COMPQ, which lowers the probability of a (i)/(ii)/i/ii setup (red) but does not eliminate it, as
(1) the wave structure in futures still appear corrective going into the close, but the advance in after hours may change things.
(2) it's possible to call the rebound from yesterday's low a zigzag instead of a five
(3) the proposed five up can still morph into a seven (when the market fills yesterday's gap).
For now, let's call the area around the current rebound high as
(green) i-up (or (i)-up) of [iii]-up
(blue) a-up of [b]-up of [y]-down
(red) somewhere along ii-up of (iii)-down
[1124am] Squiggle update (SPX) -
[1015am] Squiggle update (SPX) -
SPX cash has traced out a five up from yesterday's low, futures a three up.