Let me tell you it's simple - We could either head to the all time high areas again or we come out of this and decline. Think about the arrows drawn....!
Bears are in control under: 3200
Bulls are in control above: 3280.9
This is looking at medium term outlook, in short term time frame we may even see, patterns, certain fibs levels or whatever indicators you use that you have on your trading plan.
It's been a great trade for sure, since March. However, be aware where we are heading and we could even dive into the fundamental aspects as well..Big question..when's that next stimulus coming? and in addition we got wait till Sept for FEDS and lovely treat at the end is elections...What a great year it has been in the markets!
Remember: Just an idea, not a recommendation.
All the best.