Failure To Break Out

I am putting out an early update because of the reversal we had from last week's high and resistance region.  While I would love to proclaim the top in place for either the green b-wave or the blue a-wave, as long as the support box holds on the 5-minute SPX chart, I have still assume one more rally will be seen, as we seem to be "missing" a 5th wave higher high.  

However, we do have to balance that with the i-ii downside set up presented over the weekend in IWM.  Which one forces the market's hand is something I cannot answer.  But, again, as long as SPX holds support, I am going to leave the door open for one more push higher. 

I will likely do another update later this afternoon.