Squawk Evening Update: Nothing New

Today’s new highs should not be too much of a surprise.  We have several possible counts on the DJIA to sort through for tomorrow morning, but most look like they need at least one more new high before they’re complete.   Today’s close places the DJIA  within 162 points of the April high.  We had mentioned previously that this creates less wiggle room for the index.   Tonight we are playing with some analysis to see if this fact helps us to better identify confirmation points on any turn down.  We’ll have some results tomorrow morning along with our updated wave counts.  Otherwise, there’s not much new to report this evening, just another day of new highs awaiting a turn.