With an impressive 8% rally in as many days, stocks look stretched to the upside at this point. CCI will provide a sell signal (below 100) if price moves lower from current levels. Targets would be 1,950 - 1,880 over a few days to a few weeks.
I don't think this will result in a "crash" just yet. A push lower from current levels, to a "new" high at around 2,050 or higher will set us up for a much larger move lower.
Watch stocks CLOSELY and wait for slowdown in momentum on either side for a setup.
I don't think this will result in a "crash" just yet. A push lower from current levels, to a "new" high at around 2,050 or higher will set us up for a much larger move lower.
Watch stocks CLOSELY and wait for slowdown in momentum on either side for a setup.