A lot of a chop yesterday as the market tried to shake out bulls and bears both before a breakout happened. This pattern reminds me a lot of the 3/21/2022 period into the 3/29 high, whereas the market did a little dance around 3/22 to 3/24 back then, which was just under the recent double top highs from 2/2 and 2/9 in 2022. The market is repeating that pattern to some degree it seems as it stays under the 12/16/24 and 1/24/25 double top highs.
It should get up closer to those prior tops today, similar to either 3/25/22 or 3/28/22 back then. If we rally up today and make a triple top then we should be similar to 3/28/22, and that means Monday we should see a breakout new high happen like 3/29/22 did back then. I'm still looking for about a 100 points higher then the double top highs so that it can take out all the stops on the bears.
It might drag out into Tuesday if today doesn't get up close to the double top as then it would be more like the 3/25/22 high, which was a Friday back then just like today. But we are so close now that I do lean toward a triple top today. Regardless, we are very close now to an important top before we rollover for a nice correction in February.
Have a great weekend.
