I’m a big fan of westerns and there is no difference in riding a wild stagecoach than riding a Bandwagon that is still empty at this point. Once more people jump on this asset class is going to get over-loaded and then become prone to a crash. If I’m right we still have a long way before the stage fills up and the horses get tired. HDGE is going to meet resistance but eventually leave that in the dust. This run is far from finished as investors are in for a rough ride to put it mildly. Just like with other indices I see an expanded pattern, so a nice set of 5 waves in Minor degree should fully develop counting from the September 2018 bottom.