UPDATE 7:15pm: As Kevy and Saboya have mentioned in comments, the DOW at the moment counts very well as threes in its subwaves and is actually making a nice potential expanding triangle. I forgot to mention this pattern in my update but if the markets do not make a wave (v) push, then by all means, this pattern could be the ticket and produce a nice [e] wave bear move down. Of course, an [e] wave implies reversal yet again to the upside once it finishes so be on your toes. An [e] wave should be a zigzag and not a 5 wave move....So there are clues.
Its a game of gap ups and down.
In my opinion, the SPX hasn't made a 5 wave move up overall from its recent 1083 low. I have today's high marked as a wave (iii) of [i] of C of (Z). A wave (iv) should not breech wave (i)'s price territory except under certain circumstances (leading or ending diagonal). This isn;t one of those cicumstances.
So tomorrow we should see the wave (iv) trace out if thats whats happening. Then a new high on the SPX would be a Minute [i] of Minor C of Intermediate zigzag (Z) to P2 peak. Refer to this chart for that count
If wave (i) price territory is breeched prior to the SPX making a new squeaker high tomorrow, then something else is going on and its likely not wave C of (Z).
So thats how I look at things tomorrow/Wednesday. If the market traces sideways and makes a new high above 1112.28 prior to breeching the price area of 1099.06, then Minute [i] of C of (Z) is a viable count. If 1099.06 is breeched prior to the SPX making a wave (v) push, then that is bearish. Potentially very bearish.