At $1000 this looked pretty well done, clearly not so. According to the Fed. this must be one of those stocks that is not overvalued, just trading where it should. In EW terms things look differently. Wave 5 is now about equal to wave 3 (or wave 1 and 3 combined). With the exception of commodities this is often as good as it gets. The high today was 1333 where it trades at a p/e of 37x. The RSI and MACD both suggest a reversal is right around the corner. First target is $600.

$1001 is a nice price for this stock. So is the p/e but then the company grows by 25% a year so that may not be that outrageous. What is unique about this stock is that it is the only S&P stock to have traded above the $1000 mark. We would sell it, or , alternatively, maintain a very close trailing stop-loss order, simple because it is possible to count a clean 5-wave sequence up into this high. The normal range for a correction, if one occurs, would be to somewhere between $600 and $400.