Initiating coverage on Abbott labs at sell.

I don't know anything about Abbott labs except that the shares have been very strong for a long time.  I'm only posting about it here because the chart counts like it is done with the bull market.  It is really an exercise to see if chart pattern is more important than so called fundamentals (something that I clearly believe to be the case).  That is why I specifically avoided looking at ABT fundamentals before writing this post - so I could not be swayed either way.


Below are the charts.  On the left I see a large rising wedge spanning a couple decades with the 5th wave in throwover itself a rising wedge.  The blue numbering shows 5 rail bumps have completed and the right zoom in shows that that 5th wave counts as an a-b-c so I don't think there is any gas left in the tank. 

It will be interesting to see what happens from here but keep in mind that if I were trading this short (which I am not) then I would sell now and stop out 1 penny above what I have labeled as blue 5.  So the risk I am talking about here is very small in relation to the % gains that I see as being possible here.