Short-term update on SPX/SPX500

SPX500 continues to subdivide almost exactly as planned, though I had to relabel wave (1-2-3-4-5) and I missed on my scalp shorts yesterday.

It is likely that we will get stuck for the next couple of days in a sideways movement with a brief rally to complete the wave c by the end of the week. Another possible scenario - will get stuck until the end of the week and the market will rally in 5th wave (circled) only when Powell speaks and then reverses next week. Whatever the case I will be looking to build my shorts when wave c is complete.

The pink scenario is eliminated by this stage, though Elliottwave.com still has it as a base case.