Going into the last hour of trading Friday, I want to suggest that all take a close read on market sentiment this weekend. The euphoria I am hearing in the media and from analysts being interviewed today can only be described as chilling.
A peak in sentiment should accompany a final peak in the Wave 4 rally that my weekly chart has been tracking for the past 10 weeks. That's not to say that this is the top, right here and now, only that the elements are coming into place that would allow that top to occur.
Accordingly, all shorter-term Sell signals should be given our utmost attention and respect.