[Update 3:02 PM: Reached resistance on the e-minis]
Primary count is that Minute [b] is in play. The alternate is that [a] has yet to finish and wave (v) of [a].
[b] wave should be the form of a triangle, flat or some combination double flat. Last choice would be zigzag. [b] should last for a few days so it has the "right look". And it probably shouldn't carry a too terribly deep price retrace of over 50% if at all. 1068-1072 is an important support level in my estimation although the market can choose whatever it wants. There is support higher of course at around 1082 and even higher. A surprise higher high today could be (v) of [a] and in that case I would look for negative divergences..
A triangle pattern should have one complex wave, usually the (c) or (d).
Top bearish alternate is that Minute [ii] of Minor 3 has topped or will top soon. In that case look for impulsing valid structures down. Yesterday's squiggles had overlap at key points.
Those are the initial things to look for when viewing the market through the lens of wave counting. Everyone has their own methods of course.
Gaps up or down today would probably be covered in either case just a guess. There is a powerful tug of war between bulls and bears and its OPEX week.
What better time than to have an oscillating messy [b] wave?