Likely melt-up scenario and bust. My prediction for the next decade.. Melt-up can also go way higher, as it's impossible to predict when a negative catalyst strong enough to crash the markets will come. I do think we re-test the 5500-6500 support low eventually in the coming years in the next bear market, which has to come eventually, no matter how much the fed...
According to the historical cycle, we may see a final push up in September-December. If we break the highs, we'll see a strong parabolic move up to 100k (easily)
I remain neutral until we can get above the 42-44k zone. Great area for long entry (with a stop loss) to see how far we can push to end this bull cycle.