In EW terms, there are a lot of good EWers calling for a large degree C of IV bottom here.** That would be bullish, and lead to new ATHs.
Dario, CG, and Alphahorn are in this group. Among others.
However, my analysis (which does not use EW at all) is unequivocal, that we will soon be getting a 5th wave down within this sequence off the Dec highs.
See Daneric’s blog for his chart on this.
I have key R at 1897 spx, and I’ll be watching for a top there. Too soon to commit though. Wave 4s can drag out. Fibs also suggest allowing for a higher retrace.

The metals appear to be falling back ‘into line’ so there’s evidence that it was they who were doing the lying, not the miners.

** Wave IV with the the wave III high back in May, and either Aug or Sept for wave A lows. Then B in Dec.