SPX Daily - Thursday, Jul 7

@ 4 PM

When a corrective wave makes a new high, it sure complicates wave counting.

@ 3 PM

I can see some resemblance between 5 of (A) and 5 of (C).

@ 12 Noon

Wave Y as labeled, is looking like a very good impulse with an extended third wave. Wave W can be counted as an impulse as well. That would make it an abc or waves 1,2,3 of a 5 wave impulse as in Minor 5.

The Minor 5 count will become the preferred count once a new high is created.
NDX and COMPX may be the first ones to do that.