lots of similarity to 2011 action. This can go either way. If we blow off top to new highs, then we're looking at a deep correction. If we hold here and consolidate, market is probably looking to start a new bull cycle.
I'm still long but watching carefully. A failed breakout to new highs will be a significant red flag here. The weekly action on SPY last few months resembles the 2007/2008 action. Something to keep an eye on