Here's another way to look at it. If anything, I'm looking for an end to this leg, what it ultimately represents for now I'm not sure but does it really matter just yet? I have a few count options that anticipates a conclusion to this leg up so that is something one should be mindful of. How the wave structure develops afterwards will provide more clues as to what type of top it represents.
Here's a count option should the 1 min below turn out to be an impulse wave down. Target looks about 1320ish.
SPX 1 MIN
These are the squiggles off the bounce from Friday's low. Looking for a wave 5 red to complete that third wave. I didn't put the usual "/" label but keep in mind blue 1-2-3 may easily just represent blue a-b-c.
