Well....the market is getting ready to show us its hand...IMO we're now either headed to a potential double top at 2111 or a pullback to 1960. The P&F chart suggests a pullback as to several other indicators BUT a close, near, or above 2060 indicates that we are headed north again. So descending triangle (P&F) or a W pattern appear the most logical possibilities.
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To date: 2111 – 2039 – 2084 – 2025 to 2111 and higher or 2010 and lower.
2040 is still the number that is the center of this.
Everybody expects a H&S down, but the W pattern seems very possible.
There is still a lot of strength in this market. I wish I had stayed in now even though I'd be in hyper-anxiety mode.
If it is a W pattern, we have already turned up, and are likely on our way to 2111 for a double top.
But, if I were trading what's in front of me (as I have been), I'd be thinking 1960.
We may know by the end of the day, but more likely Monday.
FS