I’ve taken a look at this sector ETF to see if it had any clues to wear we are in the broader stock indices. In general looks like the SPX. Either the expected near term high is the penultimate high or with a different EW count, this could be a more significant high.
I’m torn between the main count and the alternate illustrated on the following weekly chart. The main count works better with the monthly geometry, see chart above, but can argue that the alternate count on the weekly chart has better wave construction.