SPX captured its next short-term target, and is going to bounce to open the session:
NYA is above the zone it "should" reach if it's forming a more complex 4 (or something more, obviously). In the unusual event it were to reverse here and head up to a new ATH, then we'd have to consider bull nest or diagonal as options.
Finally, a quick update on gold, which broke down from the noted trend channel and dropped straight to the next support line on the legacy gold chart:
In conclusion, INDU reached its first downside target, based on the pattern observation of exactly one month ago, and this does always present the option for things to be "done" -- so while I'd prefer to see NYA and SPX follow suit, we'd still be wise to pay attention to how they react to overhead resistance for some additional confirmation. Trade safe.
Trying to chart Tulip Prices during mania is like trying to lead people out of a crowded room when fire starts. We have the biggest surge in earnings coming in one months time. If this market doesn't cool before then watch out above! Going to look like Bitcoin as it surged to over 60K. Window for a dramatic drop is closing fast. No sign after this week ends should close the door on anything other than nose bleed heights.
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