Things are looking tired perhaps and certain sentiment measures are elevated to be sure.
I reconfigured the squiggles a bit to allow a squeaker high above 1129 mark to denote Minor wave 2 high. This would mean one more squiggle rise. Whether you use a double ZZ count as I have done here, or a straightforward [a][b][c] 5-3-5 single ZZ from the July lows, EW theory suggests that the [c] or [y] wave should end higher than the [a] or [w] wave. So that means a new high over 1129.4 would be required.
In the case of the Wilshire shown below, a new high above 11841.46 (August high) would be required.
Here is another option (the one I have been using the past few days) that supposes a bigger squeeze over 1130 is coming. Certainly there are other options. We'll just have to see further evidence.