It's looking and feeling like we have topped with that fast overnight stop run to pierce 6000 in the futures. No way to know for certain until support is lost of course. As for today, I don't expect much, unless some news events comes out that causes a sharp move in the market... which could be up or down? But I think the up move from a news event (NVDA earnings) has already happened, so the move should be down I think. I was looking for that stop run to happen late next week, and for it to go higher, like to 6050-6100, but it happened early instead. And it didn't have as many stops to hit as I thought (bears) as if there were more we would have seen those higher targets hit.
Anyway, there's not much to here until it does breakdown. I think we've topped, so I'm short, but we still have an up move likely into late next week. If we drop first though (an A wave) that move will be a lower high (a B wave), which is what I think will happen. Mid-June is still where the biggest panic should happen, so that's where the bottom should appear. Whether it has topped already or will make one more move higher next week is unknown, but in the end we should be going down afterwards, so I'm taking my chances.
Have a great weekend.
