The index goes up and the technical picture deteriorates. In any event, it is possible that this , almost 6 month long, pattern is a 5th wave diagonal a.k.a a wedge. They are supposed to retrace right back to the base and do so rather fast. Perhaps Yellen’s sophistry, hairsplitting gobbledygook can push the date of recognition even further in the future, but this chart is clear as a bell. Coming after a 25% rise it all seems to fit. Just for some perspective, below is the Bigchart of the Russell 2000. Clearly there is no bubble!
