|SP500 4-hour chart - wave (b) likely completed today|
So, price appears to be headed back towards the upper trend line of the still-potential triangle. While we have not entirely written off the leading diagonal A wave, up, yet, price would have to exceed the point labeled minute-c (circle-c) for that count to come back alive. That might be possible, but it depends a lot on the Payroll Employment report tomorrow. And judging by today's volume, a lot of people are just sitting on their hands and awaiting the outcome.
Not all that bad an idea!