The blue line is a simple 10 day moving average, it is now a parabola. RSI at top i maxes out and yes it is lower than at wave one or three, this is wave five and it should have less momentum. PMO at bottom has yet to turn down but it should do so this next week.
Gold exhibits the same pattern, momentum is waning.
Bill Clinton addressed Davos raving about the great stock market, circa 2000, It then tanked.
Trump did the same thing 201780 the DOW dropped 20%
Trump returns Jan 2020, market drops 38%
Now Trump returns Jan 2026 to crow again about the markets, let's see if history repets
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