In general, the markets are overbought at this point.
The rally may continue briefly into Monday to make the Zag rally 7 days, just like the Zig rally from April 29ish.
Leading Dow components such as UTX and GE are near their turning points. So many of the lagging Dow components are near the end of their corrective rallies. There is not much potential for a prolonged rally the next couple of weeks.
The best Bullish case is that UTX and GE are forming ending diagonals, with wave 1 of 5 complete today. The next Bullish case is a double zigzags, with the zig completing today. The least Bearish case is today is the turning point, and massive selling will begin next week. The most Bearish case is Large Wave 3 begins next week.
