I am somewhat neutral regarding if this has further to go upside or its a flameout right here. Can argue either side, however looks like we need to pull back right here right now. Note all of today’s price action outside the BB, plus todays candle is a hanging man. neither element “requires” an immediate pullback,however both together increases the probability. Stochastics and every other indicator are now headed up so it will require some time to convert this move into a downtrend.


On a perverse note this could be the markets way of cleaning out the shorts before its final liqudation move to the bottom of its 4+ YEAR BEAR. Also such a move would first require the bear to reload with fresh new long positions to give it the fuel for a new power downside liquidation