1. The Leading Wave Index (LWX) indicator, color coded in the price bars of the following daily chart of the Wilshire 5000 index, turned off the bullish time-window on Thursday with a registered negative value of the LWX. Based on the forecast of the LWX indicator, the market could be entering the bearish time-window which looks similar to what it acted in the late of April (see the white circles marked on the chart).
2. The Broad Market Volatility (BIX) index, measured from over 8000 U.S. stocks, closed at 5 on Friday and remains well below the panic threshold level of 46 indicating that the current market is still bullish. The BIX is plotted in the following chart as compared with the Wilshire 5000 index.
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