If EWI is correct then the advance today is all she wrote and a vicious decline follows here. Their count is based on the wave 1 low falling on 5/6, the rally to 5/12 as wave 2, the decline to 5/25 as wave (i) and the rally to 6/3 as wave (ii). If EWI is correct then we are in wave (iii) of 3 and a violent decline is imminent.
Caution is in order in case I am wrong and EWI is right.
The market has rallied in a 3-wave to within the 5-minute, 380-unit M/A resistance range. I prefer to be on the right side of this M/A. Therefore until DJI clears 10,100 I will engage in short-term trades only with tight stops. The first trade will be to buy SSO near 9,985.
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