There is enough evidence that wave 2 (starting off the 5-25-2010 pivot) has completed at the 6-21-2010 pivot.
According to the previous post, the stock market sectors are not in tune; this results in a difficult count for ES - SPX.
My preferred count is a w5 failure in ES - SPX .
The alternate count is an expanded a-b-c for the w of the w-x-y of wave 2.
For NQ, wave 1 ended with an ending diagonal. If you are quick to point out that w4 got into w1 territory, you are correct; I see the structure as a leading diagonal, so that is ok.