The Oct. 27 Israeli Elections….Waiting…..

The exit polls, if accurate, suggest that neither Mr. Netanyahu’s bloc nor the one led by Mr. Eisenkot, a former military chief whose son was killed in the Gaza war, will be able to form a government without relying on two Arab parties that were projected to win as many as 17 or 18 seats in Parliament. Mr. Netanyahu effectively ruled out including them in a governing coalition, and Mr. Eisenkot and his partners have balked at the idea, too.

One option analysts are already weighing is whether Mr. Netanyahu, who has led the most far-right government in Israeli history, could join with Mr. Eisenkot or others in the opposition to form a unity government. But a unity government would face major obstacles, given how deeply Mr. Eisenkot’s voters despise Mr. Netanyahu, and because the two would have to agree on which of them would serve as prime minister. Mr. Netanyahu is unlikely to give up control, while Mr. Eisenkot has called the prime minister unfit to lead Israel.

Much remained unclear early Wednesday morning in Israel. Making matters even murkier, Israel’s exit polls have a spotty history of accuracy, particularly in tight races.

Mr. Eisenkot appeared onstage past midnight at his post-election party and attempted to strike a tone of triumph — as well as defiance toward Mr. Netanyahu.

“Tonight we got the answer: The public wants change,” he said.

Mr. Netanyahu addressed his supporters a few hours later, invoking his relationship with President Trump and repeating his pre-election talking points about removing the threat of Iran. He sounded triumphant, saying it was clear that Likud had emerged as the largest party in Israel and mocking months of pre-election polls that showed his party trailing behind that of Mr. Eisenkot.

“We must form a strong right-wing government,” he declared.

In the coming days, after official vote totals are released and parliamentary seats are allocated to parties, Israel’s president, Isaac Herzog, will invite the party leader he thinks has the best chance to assemble a governing coalition. Such a coalition would usually have to be made up of at least 61 lawmakers, though Mr. Eisenkot has floated the idea of forming a minority government.

One factor not reflected in exit polls are the hundreds of thousands of votes cast by Israelis at special polling stations, including at military bases, hospitals, prisons and embassies. In the previous election, those votes tended to favor the coalition of Mr. Netanyahu and his allies.

Here’s what else to know:

• Arab parties: The exit polls pointed to at least one surprise in projecting that two Arab parties would win as many as 17 or 18 seats in the 120-seat Parliament. That would be their strongest showing ever, and potentially give them an important role in forming the next government. Read more ›

• War fears: Amid reports that Mr. Netanyahu has been pushing for renewed attacks on Iran, Mr. Eisenkot warned him in his speech to supporters not to abuse his power as caretaker prime minister to influence the process of forming a new government. “Netanyahu, don’t dare use Israel’s security for your political needs,” he said.