This complete ending diagonal count has no more room left - it has to drop now or its going to be invalidated.
If the ending diagonal in wave [C] is correct, then taking out 1091.01 would suggest wave ii is done, albeit with a very deep retracement.
Although the depth of the retracement of the decline from 14 July seems to render this count unlikely, so far, the Dow, the Nasdaq Composite, the Russell and BKX are a reasonable way below the high of that date (BKX is nowhere near it in fact), so this count presently works well on those indices. Only the Transports and the Nasdaq 100 have taken out the 14 July high. This divergence between the indices may prove to be bearish, though they may yet negate the divergnce, of course.