Given the structure of the decline this week, the recent high is likely (i)-up of [iii]-up per the bullish count (Green), OR B-up of an incomplete correction from the Feb high (Blue), OR a more meaningful top (Red).
Today's low likely concludes an initial impulse wave down from the recent high, both in the cash index (SPX) as well as in futures (ES). A wave (ii) or b upward rebound is likely in progress going into the close.
[1220pm] Mid-day update (SPX, ES) -
[915am] Overnight update (ES) -
