SUMMARY
Look at the extended 5th wave on this chart of Jacobs Engineering Group (JEC). That's probably why JEC hasn't reached all time new highs because its correction has not yet complete. The blue upward pointing flag is not bullish! How low does an extended 5th correction go?
When you see an extended 5th, consider running and not walking. JEC hasn't finished its correction and is likely to decline to a new lower low towards the prior wave 2 zone (white circle). The bear flag also is completing and once done, the onse of red C could be scary to many unsuspecting bulls.
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