SPX500 - Is a turn in the cards here?

I don't usually trade on time frames this short but it looks inviting. It looks like an ending diagonal at the very top for wave V. BUT... It could just be a pause before more upside so I am well aware of the risk.

Trade active:

Well that stinks. But I'm not out yet. It's not unusual for an ending diagonal to be at the top of a third wave. So it is possible the very last upward wave in this leg is ending soon. I took options on this trade so I am willing to let my option draw down by 40% to 50%. Basically if your options have drawn down that much it's unlikely they will recover. And it was a small risk as well. Let's see how it turns out in the end.

Comment:

My revised count - -

Trade active:

Well I'm certainly not seeing the drop from the upper trendline. So a move higher may negate my current belief of a developing diagonal. If it does break higher I would still expect it to be a terminal thrust. Reversing and moving lower quite decisively.