FX:SPX500 S&P 500 index of US listed shares
Below the yellow trend line I'm counting 'sp as corrective in a wave 2 off the Feb low. Recent high can be interpreted as an expanded (b)-wave of a (shown in yellow), or as all of b (shown in red). Over the yellow DTL I'd be expecting wave 1 to top with a test of the ATH as shown in green. The yellow count is my preference, but what does that matter? Price will write its own story.