The minute wave [iv] looks ended yesterday and lasts 3 days. If it is the case, the new bullish minute wave [v] kicked off yesterday after touching the 20 day simple moving average. According to my mood dynamic theory, it should last about 2 weeks and make a new high.
The wholesale inventory reported yesterday plunges to -0.2% in November from 1.7% in October. I am very surprised to this as the real GDP of the U.S. should expand about 4% throughout the Q4, 2010 according to my real-time GDP Thermometer theory. That means inventory could grow at about 2% in addition to the 2% growth of the sale. Anyway, the wholesale inventory is just a part of the aggregate inventory that is the sum of inventory from the manufacturing , wholesale and retail. Also, the data could be revised later. But I will keep an eye on this unusual wholesale inventory movement because as I have written many times, this expansion of the economic activities is driven by the inventory buildup. Without this inventory buildup, the U.S. economy could plunge in a quite fast way, so is the stock market.