There is potential for a green wave [3] gap up or a island reversal gap down (red) at Monday's open. See squiggles and larger tracking counts.
[1225pm] SPX update-
The rebound in Transports and Russell2000 overlapped their respective Oct 2nd lows. The likelihood that this rebound is the red wave [iv] (Chart 1) is diminishing. Chart 2 tracks squiggles from the low, from the very bearish (red) to the very bullish (green). See charts.
[735am] ES update-
ES is now retesting base channel resistance, after (most likely) a three wave decline from its ATH. The current upswing is likely either wave [iv]-up (Chart 1, red) or wave B-up or a charge to new an ATH (Chart 1, blue). Chart 2 tracks squiggles, where there is a potential orthodox low at 1815.25.
