Rarely

Rarely do you see two Elliott Wave counts that look this equivalent. It is at times like this we must let the wave count sort itself out by making waves long enough to invalidate one or the other.

SP500 Cash v Futures (1 hr vs 4 hr)

While many, many analysts jumped the gun on a likely "crash wave", we are still searching for a good enough retracement wave to end one up-wave series.

In the first instance of the S&P500 cash count of five-waves, we could not find fault with you if you called this "five-waves-up". The only difficult portion of the wave is the third wave. It almost looks in that count like minute ((iii)) is a diagonal - which it should not be, but there might be microscopic ways to resolve it.

Not to make life too complicated, but is it possible the B wave "snookered" us, and already occurred? If so, have a look at the right hand side of the chart again. I favor this alternate least, but .. each of the alternates seem to point to lower prices ahead.

ES Futures - Right Hand Side - A,B,C ?

We don't know yet what we don't know. But, it is likely that a corrective wave to an A wave has to have some proportional time characteristic to it. Not always. But, very very often.

P.S. the ES futures made a new high in the after hours, and may have completed the diagonal we referred to in yesterday's comments. If so, the futures should stay within 2,965.50 in the after-hours.  Watch for overlaps, and in no case can the futures trade below 2,920 without signalling the likely end of today's up wave.

Have a good start to your evening.
TraderJoe