As we were saying–the primary hazard of this market (so far) is extreme surprise volatility. While we have drawn a downwave trendline here we would be very chary of betting on a breakout of that line. Rather an aggressive trade would be trading a clear breakout of the rectangle as indicated by the horizontal line. A more conservative trade would be after a new high. Until Trump passes from the scene market squalls can occur at any moment.
We will shortly be publishing a letteer assesssing the present state of the market and the risks involved. Stay tuned.