Market getting overbought

After the recent advance, the market is getting overbought.

If we consider the April 18 low as significant, then wave-1 would be ending on April 30, 2013, for 60+ points.

Wave-2 was short and ended on May 1, followed by wave 3 that reached on May 22 1,687.

Wave-4 ended on June 24.

Wave-5 is projected to end at a range 1,710 - 1,742, which will likely occur next week.