This is the Mini Cash chart with my standard 500 custom bars. In February this chart hit a bottom and then turned like there was a desperate need to own stocks. It acted like a rocket leaving the launch pad, but rockets do have a habit of blowing up as well.
In this case many different things can still happen and if we get a sharp decline this could just mean a potential expanded pattern was in play and one more leg up would then happen. Either way a correction should be due as this chart is also different from the DJIA. If any 4th wave triangle has already completed, then we are not nearly tall and long enough to fill out the "thrust" of the 5th wave.
We would be lucky to just come up to a wave 1 right now. This rally has several big gaps below so I am confident in the long run that the January, February lows will get retraced.
We have three spikes, at the 1820-1800 price, so we can expect very stiff support at those price levels.