... draft in progress, subject to change ...
Chart 1 updates our tracking count on SP500 since its November 2012 low. Note that The latest leg of advance was from the April 2013 low (see Chart 2 below)
The blue count has SPX wrapping up a five-wave advance from its November low. Wave 5 reaches equality with wave 1 at 1631.27 (if wave 1 ended at 1438.59) or 1640.68 (if wave 1 ended at 1448). Thursday's new record high in SPX is 1635.01.
The red count has SPX concluding a double three structure since its November low. Practically, its near term implications are very similar to those of the blue count.
The green count has SPX at the end of wave 3 off its November low or at the end of a five-wave advance off the December low. Depending on the profile of the pending retrace, one can assess if wave 4-down and wave 5-up is indeed in the cards. Since the green wave [iii] is smaller than the green wave [i], the pending high should be capped by 1648.37.
Chart 2 presents squiggle counts on the current upswing in SP500 from the April low.
The red count proposes an expanding EDT for wave [v] of 5 with respect to the April low. And the proposed expanding EDT is ending.
The blue and green counts have SPX already finished wave 3 with respect to the April low. Wave 4-down and wave-5 up are likely in progress.