Here is an excerpt from my outlook:
Climatologically speaking, an upper echelon el Nino event was always very dubious from even a very extended lead time due to the noted periodicity at which events of this magnitude occur. Since 1972, there have been four el Nino events with an ONI, MEI and RONI all exceeding 2.0, meaning that these four events were all extraordinarily intense relative to the surrounding Pacific basin within a warming climate. And thus extremely well coupled with the atmosphere. The warm ENSO events of 1972, 1982, 1997 and 2015 featured an average periodicity rate of 14.3 years with the lowest return rate being 10 years between the 1972 and 1982 events. Regardless of what guidance implied, another event of this magnitude was never particularly likely a mere 8 years on the heels of the great el Nino of 2015. As the spring, summer and now fall have progressed, it became clearer that this logic was sound, as the el Nino never significantly distinguished itself from a Pacific basin that featured highly anomalous warmth throughout and hence has yet to strongly couple with the atmosphere.