Well, the bulls did pause for the first couple of hours yesterday but the dip was bought and we saw the market grind higher afterwards, and into the close. Maybe today pauses some? It doesn't have too of course, as it could continue to have intraday pullbacks that reverse back up afterwards, but we should see more resistance when the falling trendline on my chart is hit today or Friday.
That will be the likely spot where bears short again I suspect. It's roughly 6820-6830 if hit today. If there's a pullback I think it will only be to backtest the 6780 zone from yesterdays high, as that's a triple top zone from 11/16 and 11/20, along with 11/25 of course. It should be support and from there we should continue higher into next week. Don't forget that Friday closes early at 1pm EST and of course we are close tomorrow.
I may or may not post on Friday.... probably not as there's no reason to do so. I think next week is up early on with a fade late in the week. I also think we top next week and start another leg down into late December, which a lower low is likely. Whether or not a new all time high is made next week is unknown, but again, if they do... the drop will be deeper.
Have a Happy Thanksgiving.
