Still looks likely that we correct. Especially because, bullish euphoria has taken place. Also the 24 hasn't stayed on top for this long since 2011. There are quite a few similarities to 2011, minus the H&S . Watch closely in the $176 area.
If this pattern is broken keep your eyes on $182. That's where a monthly AB=CD completes. Along with a bearish butterfly. I didn't expect us to just charge up there without a little pause. But seeing as how we broke through the 1.13 fib today, looks like there won't be a pause. There is nothing but air until 1.27 at $82. Look at my monthly SPY chart if you want a reference. Take care.
Yes I agree. I thought the market would rest prior to hitting my main PRZ at $182. I guess not though after busting through the 1.13 extension. I have 1.27 at $82 and some change though. But yes either way watch this area. Happy trading.