Other indices like the Dow, RUT, Comp and BKX can be counted as complete leading diagonals, but not so SPX since what is counted as its 5th wave didn't go lower than its 3rd wave - a breach of EW rules.
If SPX has not yet completed an ld, this obviously causes potential conflict between the indices, putting them in different positions in their wave counts.
So, what if those other indices haven't actually completed their lds? What if the 8 June lows were actually only the end of wave [iii] in all of them? This would immediately align all of them and all would now be tracing out a wave [iv] (I have to exclude NDX since whichever way I look at it, I can't see an ld!).
Here are the 60 min charts to show what I mean:
SPX:
Dow:
Comp:
RUT:
BKX:
Its just something to consider. Counting them this way does have the advantage of explaining what would have to be counted as a very awkward looking impulse wave off the 8 June lows if the lds are complete. Those moves do look like pretty nice double zigz zags.
