Pretty close to 50% retrace very quickly. Markets either stupidly optimistic in a 180 degree turn or the Fed is buying up everything. The faster it rallies, the harder the next down leg will be.
I see it the same. I think we're getting close to some important areas. (i'm looking at similar areas to you from the longer term charts) If the market ignores them (in the face of this huge shit storm) then that's surely telling, and B1 will get his new all time highs lol
For today to take out yesterday's high was unexpected, but it barely held for long. Excluding that oil move, I think we would not have gone up so much. There are many variables in a trading day that cannot be anticipated. Nothing is sure in life other than death and taxes.
Looking at the weekly chart it is not so weird we visit these areas to construct a ceiling For me it is the first time I experience this kind of market so I keep an open mind but it is hard to believe we will not be rejected hard soon.