I am not saying we are in for a major correction right now, but the similarities to the dot com bubble are strikingly similar. Note that I just used the wave tool for the counting and they may not be the exact Elliott waves. There is still room to rally to match the dot com bubbles 1.3 fib ext. Given the irrational exuberance in this market we could hit 1.5 or 1.618. One thing I do know, is that when it does finally hit the top it is a long way down.
Komen:
Updated version to match the dot com rise in percentages.
