SPX - 4hr

Two possibilities are indicated. I've had others and discarded them. No way to know if either of these are operative, or some other. 4th waves are notoriously difficult, thus I'm not trading inside it. The red triangle count needs wave-e to complete with a micro impulse forming to suggest completion. Yellow count would notionally follow the line higher for wave-b before completing 4 lower; a nasty alternative. I'm open to other interpretations. The correct 4th wave count will likely only be evident when the first impulsive (1)-(2) of wave 5 forms. I'll use Elliott Wave Theory to anticipate the possible on this time scale while looking to the larger wave structure to suggest the probable (see linked idea).