It is the ability of the chartist to interpret the possible future movements. There are times when it can be incredibly accurate & others, when the market is trendless, that can be confusing. All I can do is say what my current interpretation indicates. The overall trend is certainly bullish which normally would indicate a continuation of the trend. I realize that I am in dangerous territory predicting a reversal but that is how I am interpreting the chart.
If the trend was to continue upwards in a huge 5th wave, as you suggested, it would indicate the length of the 5th wave would take the price to around $167.96 which seems rather excessive. This would then show a yield of 2.77% & grossed up 3.955%. That would not be too encouraging.
Currently, the S&P500 futures are up 0.15% indicating a positive U.S. stock market tonight.
CBA Price at posting:
$138.81 Sentiment: Sell Disclosure: Held
(20min delay)