[Update 6:10PM: If gold has topped and this is a wave 2 retrace, then the blue box area would be the target zone.]
Keeping things in context the SPX, despite a constant upward rally since early July, has only retraced some 57% still shy of the 61.8% Fib at 1140.
There is enough of a wave pattern to suggest the Minor 2 high is very close. Will it have one glorious blow off move tomorrow in response to the Fed? We'll soon find out.