EOD: This now looks more like a short term corrective pullback about to materialize. Check back for weekend updates on the summation pattern which now has a new analysis as well as developing negative divergence on breadth. Pivot will most likely commence higher up after a corrective decline that likely closes the gap from 4/1/21 which we have been watching. Now it could be getting closer to finally filling it.
Wave labelling technicians probably have a better standard analysis but this is an equivalent action we have seen more than once. If it holds, it will be one more example of whatever wave theory this fits.
Expectation is to stay range-bound for quite a while as the market needs to unwind a lot of accumulated breadth. The range most likely will be large enough to shake up bulls and bears. The market top is some distance away.
See Critical Long-Term UPDATED 4/12/2021 Review Here
The bots will flag here when they see a top. (1/25/20, 2/20/20, 4/9/20)
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