SPX looks to be in wave 4 with a potential wave 5 ending at 1866 which is the 1.618 Fib extension of the wave 4 retracement.
I agree! But difficult to determine the end of wave 5 which doesn't have the limitation of having wave 3 (48,09 point) being shorter than wave 1 (42,72), so several options are open. Wave 5 could truncate and make a double top or move further on than your 1866. Another possibility is a wave 4 into wave one violation (we don't know yet weather wave 4 is over and making a flat correction). Then we could have a ending diagonal and your 1866 seems more likely BUT!!!!! Time will show.....as always. Safe trading BM