Update

The indices look different - DJ/NYSE/SPXEW look like impulse lower and now they should retrace higher, NDX looks like b-wave testing the previous top at 20w high, SPX looks more like the NDX but stronger and some count wave 5 running now.
Overall I expect 1-2 weeks to complete the current move higher and then lower into 18m cycle low sometimes next year.

Expecting another week to complete the cycles higher. Alternate it just turns lower earlier...

This are the longer term cycles for the NDX... I see a 40w top early June on schedule and now retest of the top on schedule for 20w high.

Heading into at least 10w high and if we have the same cycle model like NDX it is 20w high.
You can see three tops of different degrees 10w-20w-40w - perfect example why the theory analysis bottoms and not tops. The waves with different lengths synchronize at bottoms and the tops are spread in time.
There is well known phrase describing it - “tops are a process, while bottoms are an event”... we are watching the process lasting several months.

Update

I think we have impulse lower better visible if you look at other indices like DJ,NYSE,SPXEW. The logical behaviour is to see wave 4 and 5w high, then the final low with 10w low followed by retracement higher for 10w high - all this in the next one month. Alternate move into 10w high is already under way.

One more low for wave 5?

The shorter cycles.... alternate we have 5w high and move into 10w high has started.

Update

We have corrective pattern for the 5w high so we will see at least one more leg lower when the pattern is completed.

Long term look at cycles since the last important low and high:
- lows(red) does not realy adher to the theory just one 18m cycle. What we have is 2.5 years cycle.
- highs(blue) running almost exactly 18 months like thetheory says... usualy they are shorter.
If this continues we should see decline for one year to MA200 like all the previous declines in the 6000 area +-200 points then higher for 6 months.

Update

Here we are in September and it is time for the next high as expected. The question is lower high or higher high. SPX has a chance, possible pattern for higher high NDX and DJ with very high probability for lower high. It will not last long a week and we will know.

The two possible patterns. SPX looks like possible 4th wave(red), NDX and DJ look like sideways flat correction(black) before continuation lower.

The bullish(for another week) count a-b-c on a bigger scale.

The bearish count - completed impulse.

The same from cycle perspective.