The upswing initiated back in May remains intact. The most recent shallow pullback (23.6%) is complete and the price broke the upper edge of the consolidation. At this point a continuation is expected aiming to reach 15500. The price may return to retest the breakout area to either confirm or invalidate the intent. This is the price-action 101. Too many traders expect a correction to start and this is what continues fueling the bulls. In my view, failure to continue and return back into the broken balance would be a consideration for a potential correction start.
The next week the mega-techs are reporting. I expect a spike in volatility.
07/25/2021
The next week the mega-techs are reporting. I expect a spike in volatility.
07/25/2021
