The spike from earnings could be a terminal move, the recent gyrations over the last few months count well as a triangle, which would indicate that a thrust to the upside is likely a terminal thrust and a 5th wave of an impulse wave that started from the 2016 lows.

When you look at the whole move from its all-time low in 2006, the spike to new highs could be a 5th wave of a larger 5th wave, which makes today’s spike an important move and a potential major peak is setting up. Whilst it’s above 173.50, give the benefit to the upside. A strong reversal back under 173.00 – 170.00 is needed to make the case that the upside form 2016 has ended and completed a 5 wave advance for an impulse wave. If you own this stock I would suggest you cash out if a big reversal under 173.50 – 173.00 or may regret not banking profits.

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