I tend to think the Nasdaq will reach 10,000 before this 4 year cycle tops. But if that plays out price is going to be stretched extremely far above the long term mean setting up for a big correction at the next 4 year cycle low in late 2019 or early 2020.
I was hoping for a healthy intermediate degree correction in August but it’s starting to look like the ICL is going to get pushed out to October unless we get busy moving down almost immediately next week. As I pointed out, sentiment isn’t really excessively bullish yet. The volatile correction in February really damaged investor confidence. It’s taking a long time for traders to become bullish again.