After hours yesterday the market broke out and is now running stops overhead. This tells me the odds of topping this week instead of next week is much higher. Basically, it's more of a "feeling" on when to short, which will be based on when one thinks all the stops have been hit on the bears and the market is exhausted.
We could see one more higher high today (or not?). Somewhere between 6050-6150 is where I think the market will run out of gas and rollover, which can happen this week from the looks of the market right now, but it doesn't have too. We could have already topped, at least for now. Meaning we could pullback from here and go back up to that higher area late next week. Or that expected rally is a lower high. The daily closing candle will be important today.
Target on the downside is still around 5500 (or lower) into mid-late June. It really should fill the gap lower down in the 5300's but that's not guaranteed. Nothing more to add, so I'll end it here.
Have an blessed day.
