El Nino Watch
Neither El Nino nor La Nina: the Nino 3.4 temperature stays within 0.5 °C of normal. Other climate drivers then have more say.
El Nino basics
ENSO-neutral means the tropical Pacific is close to its normal state: the Nino 3.4 anomaly is between -0.5 °C and +0.5 °C.
Neutral does not mean "normal weather everywhere". It only means ENSO is not pushing strongly in either direction, so other drivers (the Indian Ocean, the Madden-Julian Oscillation, local weather systems) decide more of what happens.
On the charts, the shaded band between -0.5 and +0.5 is the neutral zone.