I am not sure how many more ways I can present the exact same analysis. So, today, I am not going to repeat what I have been saying for the last week or more. Rather, I have included a 5-minute SPX chart to present the analysis.
As it stands right now, we have the minimum number of waves in place to complete this [c] wave rally. But, because wave iii only reached just beyond the 1.382 extension of waves i-ii within this [c] wave, I am tracking an alternative which still can push us higher one more time before this [c] wave is complete. And, it was this to which I was alluding when I mentioned the higher resistance if the SPX can extend this week before breaking down below 4480.
For now, the 5-minute chart pretty much says it all. And, the parameters outlined over the weekend and the last week or more remain the same.