The recent melt up on some tech stocks is impressive to say the least, one such stock I have been tracking is AMAT, if you own this stock this I would considering taking a sizable chunk of any profits your have off the table, if new highs are seen around 48.00 – 50.00.

Looking at the decline from the advance from the Sept 2016 lows, I can make a strong case that new highs would be the end to a 5th wave of an impulse wave. If new price highs see the RSI divergence holds, it will also favor that the trend from the Sept 2016 lows could well be coming to an end and support a substantial pullback. be very wary of price makes new high and its not supported by the RSI.

Do you have a stock that you want analyzing? Then why not purchase an Elliott Wave Report, it may just save you a small fortune.