Hi Sean, Looking at your weekly video update (10/12/2017) at the 8:50 mark where you identify the waves of the S&P500, and using the waveratios.pdf you recently shared, their theory predicts an overextended wave 5 (page 10-182, wave 3 less than 1.62), which will culminate around 1 of 3 places: 2777, 3335, or 4245 for the S&P index. Any thoughts on that? I'm happy to share the details of the analysis if needed.

The latter two levels mentioned would likely not be reached because of how extended P/E-wise the market is compared to its history. Additionally, investor sentiment just came out today and it's never been more optimistic (even more so than the crashes of 2000 and 2008). Additionally, it's not likely to extend that much further away from its 200-week moving average.

Could 2777 be reached? Sure, but it's doubtful. But remember, at tops, you're dealing with a euphoria and so there is no logic. One can only measure risks and step aside when the risks become high because tops are only seen in hind sight.