Updated February 18, 2019.
The market chose my alternate path and should now ideally be close to completing (green) minor-5 of (black/red) major-1/intermediate-a. Note price has fallen out of the uptrend channel and been unable to recover it. The move up off the (grey) minute-iv low counts well as 5 waves up and could go as high as 2784 for a 5=2.000x 1 relationship. The most bullish alternate is that minute (grey) wave-iii was only wave-i and (grey) minute-iv was only wave-ii. Price is now in minute-iii and ready for blast off. Bit hard to comprehend at this stage of the rally, but possible. We’ll need to see a move above SPX2784 to be more certain this is the case.