Weekend Update - Expanding Wedge (2/5/21 close)

SPX cash did not overlap 3645.99 as anticipated (ES futures did overnight),  but made a new ATH after touching its SMA50.  Chart 1.

The larger tracking structure has survived.  Near term, instead of a previously labeled converging wedge (red), we may have an expanding one (blue).  Chart 2. 

The minimum price requirement of 3892.86 was met at Friday's high of 3894.56.  However, the expanding wedge would work better to have another down-up swing to satisfy the time guideline, making the current peak wave a-up of wave [e]-up of this potential expanding wedge.  Time will tell.