[S+P500] update

At the backlink I was looking for an owl at lower levels but that busted.  I think that the recent peak was likely a failed 5th.  It's 5 waves up but could not create a new high and that is how owls are usually formed.  I suspect that an AM rally tomorrow gives way to a lower low as shown below.

If this model is correct, the initial rally just mentioned is optional before more selling likely hits.