Do not be drawn in to bull run or market crash talk every time there is a strong rally or decent drop. We are still moving sideways since Jan in choppy action after the yearly R1 was tagged. The pullback was contained to the DeMark pivot with the traditional pivot below as further support. Until we break this range by a decisive breach of one of the pivots we are due for more chop. Use the weekly pivots to guide you through this.
We are obviously closer to the YR1 and a retest of this high in the coming months seems likely.
I read this on twitter today and though it apt for this chart: 'Don't predict price, react to it'.