The wave counts are looking prettier and prettier. Last night the futures completed their 5-waves. The lows in the cash market were already in last night's activity so futures lows held.
The indices are pressing their Feb and May lows and unless those lows are broken I'll stand aside:
Today's activity is a good reflection on I1, which made a marginally lower low than yesterday. Normally I1 double-bottoms indicate mid-day lows. The following chart has an expanded scale to show greater detail:
I stepped out early because the market is chopping into what I believe is solid support. Besides, I made enough profit the past week to finance several fishing trips and I want to take one. The XMI count is complete:
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