All indices are entering the final wave of the 5-wave advance out of Friday's triangle. On a broader level, since Tuesday's low DJI is behaving impulsively and SPX overlapping. If DJI completes it's 5-wave by exceeding 10,315 then it could be done right there, according to wave theory. If I1 is going to hold up the market for another week then further waves will unfold. The behavior of SPX is troubling for the bull case. Nasdaq is completing a 3-wave off of Tuesday's low. I wish I could go short at the end of this advance, but rules are rules.
Here's I1 raw (divide by 10 to follow the rule sets):
1 20100611 29.63877
1 20100614 32.30605
1 20100615 34.33631
1 20100616 36.33645
1 20100617 37.751
1 20100618 38.73679
1 20100621 39.33455
1 20100622 39.05581
1 20100623 38.36848
1 20100624 37.36278
1 20100625 35.99958
1 20100628 32.87279
1 20100629 30.01833
1 20100630 27.26258
1 20100701 24.67989
1 20100702 22.35137
1 20100705 21.57711
1 20100706 21.9467
1 20100707 22.73956
1 20100708 24.07844
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