Nasdaq Composite

The NASDAQ is coming close to a series of channels are redheads higher in wave V of 5 which puts it in possibly late stages of the current rally. The long term channel from 2010 is at 9921 and the more recent one from the December 2018 low goes up to 10,300. The thing is that 5th waves of this degree can sometimes truncate and you have to be watchful of any trend reversal in the near-term that can mark the completion of the setup. The trend reversal from this 5 wave advance would be the greatest risk to equity trends around the world.