SPX Update: An Option Among Options

Since Wednesday, the market has continued to grind along resentfully, perhaps angered that Jerome "Colon" Powell still exists.  Accordingly, there's still not much to add since Wednesday, but I did notice one option for the near-term, as shown on the SPX chart below:

I can't stress enough (that's kind of a strange turn of phrase -- of course, no one wants any more stress than they already have!) that the pattern above is just one of the common outcomes here -- there are plenty of other options, too, so don't go betting the farm on it.

Bigger picture, nothing has changed lately:

In conclusion, as I've noted before, bears do still need to claim the 3/c low to confirm a change of trend at the next higher degree, so still nothing new to add.  Trade safe.