The other compelling aspect to this count is the time factor. The 3rd wave of a diagonal or a triangle is typically the longest in duration and the most complex. And so when you see both the Diagonal and Triangle Options side-by-side like I show in my last post (And Just to Show You How Annoying the Market is Behaving), the Diagonal option is showing this trait, whereas the Triangle option is not.
As one last point, the Diagonal option for the SPX fits better with the timing of the counts on the other indices. For example, my count for the Russell (Heartbreaker) shows that we have one more down wave (4) followed by one more up wave (5) for P2. This would fit very nicely with the 4th and 5th waves of an Ending Diagonal on the SPX.
This is another case of many pros and cons to both counts and it is very hard to say which one is my preferred count. Just offering the group my thoughts as I have them.

