Expecting Higher Prices In Wave (5)

We are so close to a top in terms of the wave count it may be difficult to pinpoint it, but I believe that today's action was wave i of 3 of (5). All that is required is that wave 3 not be the shortest wave and we should not necessarily expect that wave iii of 3 will be an extended wave; however, when the Qs breakout above the January high, the target should be in the range of 47.50 to 48.00 as I have mentioned several times. Today's action only confirms the prior commentary. A break of 45.53 would significantly change the outlook.