Not much to add as the market continues to build a sideways base under the falling white trendline. It could breakout as it's technically forming a bull flag or even a "cup and handle" pattern. Both are bullish of course but I still lean toward a pullback, which is based a lot on the fact that early to mid-September is very bullish from the Seasonality Chart, so I think we rally nicely next week, which suggests this week should pullback... or go sideways more to further build that bull flag.
Either is fine I think as both pattern will allow one more move up into the FOMC in September. Again, shorting here is not wise as while we might pullback we could also go sideways. Better to wait for the last rally up to short or (if we get a decent pullback?) go long on a good move down.
P.S. NVIDIA earnings are out Wednesday so that should be a market mover. Will it be the pullback I'd like to see, or a breakout to new highs? We shall see.
Have a blessed day.
