S&P 500 futures have been lower overnight. I’ve modified my count a little from Friday in that I’m treating much of the move from last month as a running wave [IV] instead of an ending diagonal which in turn allows for the current drop to be the start of wave (IV). At this degree, the wave (IV) could take two or so days to develop. Initial support at 3783.25 and 3776.25, with an often seen support lower at 3758.50. Any drop under 3758.50 starts to argue for the alternate, that the high was set in an ending diagonal that ended last Friday.
