[Update 10:34 AM: There is at least 9 waves down from pink (ii) and positive divergence still exits on the hourly. Don't get too hung up on wave label degrees, as we can bump them up one wave degree later if it makes sense.
If I ever change my long term count from Prechter's expanded flat scenario - hence P - to what I have below, then all wave label degrees will be bumped up one notch and match EWI's at the moment (I am one degree lower since the 1370 high). However my long term count would not be P down where their's would be. Mine would be Primary [A] down of Cycle wave y. A zigzag taking the market to its deflationary collapse all the same as P.
The big problem I have with EWI's wave degree is that they are working toward the heart of P down already (their count is Intermediate (3) of Primary  down) when it doesn't make sense yet!