Figured it would shake out this way despite still being bearish. Profit-taking doesn't last long if the "buy every dip" strategy continues to yield results in the face of dire news (today it's a revision doubling the official projection of US deaths). And it will continue to draw FOMO-money in from the sidelines—until it doesn't. At which point the move down will be swift and severe.
Anyways, to the chart. Looks to me like we're forming a right shoulder. We could fall back down to 2880 by day's end but I suspect we will it touch 2919 before that.
Anyways, to the chart. Looks to me like we're forming a right shoulder. We could fall back down to 2880 by day's end but I suspect we will it touch 2919 before that.