Price Action shows a-wave advance topping, b and c-waves to come

There is no doubt the rally off the October 2023 low has very little distinguishable structure to it. However the MACD indicator has made a new high so we DO NOT have negative divergence telling me, we will get a downward retracement, but this recent rally is not done to the upside. For this advance to top in a more sustainable fashion, we would be rallying on negative divergence. Therefore the blue pathway for price is the higher probability. Since the SPX has not made a new high, I am still carrying the black pathway on the chart as it valid below the ATH.