Fifth waves higher in Equities?

Equity indices could be in the process of building fifth waves higher. Where that will end is open to debate. I think that final waves will be short in both time and extent. I would therefore use penetration of Tuesday 28 July lows as the first sign that the bear is back.

Below is a 15 minute chart of the Nasdaq100, where I believe we are in the post-triangle thrust higher.

Below is an hourly chart of the Swiss market index, where I believe the final fifth wave is unfolding.