The index has been forming what appears to be a Head & Shoulders pattern for time now. The confirmation appears to have been confirmed recently. NFA DYOR
Am expecting an ATH around the 20k zone; let's see if it can get there.
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Retracing to trendline support; looking good ... expecting more upside.
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20k is the target of the Head & Shoulders pattern; but that won't be the ATH. Am expecting 30k as the ATH as it appears to be the 2.414 extension. See also FI (Fiserv) and NVDA (Chip Maker) as am expecting them to 2X - 3X in the near term.
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Sources are injecting tons of liquidity into the market pushing it up ahead of the election. The FED is holding steady on interest rates while WTI/Oil is heading higher fueling more inflation for the coming months. Expected ATH target is still in the 20k zone.