This snapback rally was met with resistance that has now sent us right on the verge of breaking the again. If we fall below the again, rather than the December breakdown being a "false breakdown" flashing a signal for a move higher, the will become resistance flashing a "double false breakdown" with a move below, move above, then immediate move below again.
At this point the will become resistance and put pressure on the continuation of this massive bull run. This is not to say we cannot trade higher underneath the , but looking at the 2000 and 2008 run, when this happens there's several months of sideways trading underneath the , then lower highs and lower lows.
Traders should be cautious at this point and protect profits and keep sizeable cash positions for snapback rally opportunities in both directions. This year of will present incredible wealth building opportunities for traders to do very well.