As shown yesterday, the market ran toward next resistance near 1292-1295 SPX. Its for this reason, plus a solid subwave count, wave (iii) of [c] was marked at yesterday's high. Why? Because one would think there should be some consolidation - ala wave (iv) of [c] - prior to attempting to take out this resistance and move over 1300 SPX.
So in that light, today played out much as expected with a tight range yet no new high. Consolidation.
There was a triangle today that broke higher but we cannot assume it was all of pink (iv). It may be part of a complex wave (iv) correction as shown on the Wilshire chart below. It could take a "stab" above 1292 toward 1300 but I still think it'll meet some selling and be part of wave (iv).
Just like when wave [a] took the market to 1220-1230 resistance, it took a week or so to chew through it and break above. So same here. It may take a few days of work to attempt a break above 1300 SPX. That "work" would be wave (iv) of [c].
And of course the 200DMA could be tested at 1274 so it may just be that simple.