Here is the latest count. There is still a chance for an extension, upto 1,127, however there is no need for it. The market is so overbought right now that I am suprised that there are buyers at all. Of course the whole market could just be several HFT ‘puters trading with each other, with a couple of thousand momentum traders along for the ride – but what are the chances of that?. Anyways – the latest chart is:
