Volume is decreasing while the 4k longs wisely begin taking profit. The three year pennant remains in tact with a golden fib from the March low calling for 6400 which would produce a massive IHS strong enough to break the pennant. MACD bearish and crossing below 0. Adjusted strength indicators all bearish and momentum has just flipped bearish.
A new channel has emerged in the short the short term for those looking to day trade scalp. as for me, I am sitting happily short at 10.2 with take profits down to 6.4 at the fib lines. Happy shorting.