At this time, there really is not much for me to add to my overall view in SPX. We still do not have a 5-wave rally structure in place, so I have no reason to consider long positions, as the market has not proven its intent to rally to 4300+ yet.
But, in the micro count, I think I may be leaning towards the market making an attempt at a rally to the 4020SPX region. What that will ultimately represent is still a question, as you can see from the chart. It can either be a purple 2 (not my primary), or it can be a c-wave in a 3rd wave in the leading diagonal. And, again, I do not see leading diagonals as strong trading cues until the market proves it.
So, for now, I remain on the sidelines and waiting for the market to make its next move, which would give us an indication of the next multi-hundred point move.
In the meantime, I am watching the MACD on the daily chart quite intently.