I count the SP futures as completing a 5 up from the 11/16 low. Same for DJ and ND futures.
So, completing this abc down and rallying to complete the abc up is the expected path. This 5 up is the 2nd wave of what I expect to be an ascending triangle with 3 tests of 1225 SP futures prior to resumption of the final 5 up for 2009-2010 rally top. I1 is up through 12/6 and that is a lot of time just to be milling around in a triangle. The absolute values of I1 are a very low levels so a vigorous rally is not in the cards.
Silver popped overnight with stocks but has since withered with them as well. On the expected stock rally I want to short silver.