7/8 pre-open

The stock index futures markets traded in a tight range overnight, confirming wave Sub-Minuette iv as per the count at yesterday's Daily Commentary.  The nice thing about 5th waves is that they tend to be short.  I am flat and am looking to re-enter on the long side.
To recap the longer view, we are in Sub-Minuette5 of Minuette 3 of an ABC upward correction which is Minute 2 in progress. I1 is trending up but not on a buy signal until 7/21, but the current wave count only allows a rally to 10,593.   If this is exceeded then the entire decline from 4/26 is an ABC concluding last Thursday,  I don't think this to be the case.