I'm expecting to see correction starting on NIFTY this week. Very much probable that we are already in wave 3 given the current strength, but that doesn't really sits well with other indicators and count per se.
I prefer the count to be 1-2, 1-2 on HTF as the two larger (possible) corrections doesn't seem to have alteration as it should be in regular motive wave. I didn't indulge into details too much as the count doesn't really matter on larger level, until we have consensus on current form of wave.
As per EW, SPX is most probably in wave 5 of primary wave 3. I'm expecting primary wave 4 to start sometime in mid-August & may correct up to 20% to conclude wave 4. It's possible that wave 3 ends sooner than expected, but the ideal time according to fib time extension is mid-August.