The leading diagonal did not pan out. Yet prices are still overlapping in a non-impulsive action since the late September pullback low. The DJIA made a new high today and new closing weekly high. The SPX and NASDAQ did not confirm.
Lets take a look again at the DJIA. We can label it a double zigzag since the 2009 low. Momentum is waning on a weekly basis. We have triple negative divergence for instance on the RSI. Volume is again receding.
It may not be finished. For now the waves overlap and are arguably wedging on small scale (and large over the last 2 years).