SUMMARY
Here is Nike (NKE) in a weekly chart Elliott Wave count. Look how the waves show that 1,2,3 and 4 are complete and 5 is already and if not, nearly complete. Would you be an active buyer or a seller at this stage?
The blue subwaves of wave 5 show that it's pretty near complete. Blue wave 5 could reach to $76 or so...but is it worth holding on for the las remaining brad crumbs? Why not leave the crumbs for the greedy? The pattern is also likley to forge out an upward wedge which is bearish. The MACD has made lower low (blue line and red circle) while price has made higher; yet, another bearish dievergence.
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