With yesterday's high being breached, the count that showed a complete double zig zag at that high is eliminated and I've now moved on to the count that had us in a continuing double zig zag.
The rally from yesterday's low could be just wave [A] of that second zig zag, but here is a way to count it that would have it complete at today's high or needing one more high to complete:
SPX 1 min chart - double zig zag in progress:
If we take out that 1039.75 level, it may well mean that this count is complete, as labelled, but as mentioned above, we may only be in wave [A] of the second zig zag, so caution is required on the short side.
