Seasonality and technicals (so far) farvor the bulls. $S&P 500(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)$
You don't want to short the market right here. imo. I believe we are in the process of setting up a serious top.
1- If we continue to $SPX 4500 without at least a 38% fib retracement, chances we will tank before 4550 and certainly before 4607.
2 If we pullback for at least two days to anywhere between 38%fib (3300) and 50% (4260) which would coincide with 200MA, then chances there will be another leg up to $4700 and maybe ATH to form a double top.
I am still biased towards the first and hoping for the second. GL.[Cool][Cool][Cool]
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