My general thoughts on the market for the week ahead. We have a lot of consolidation and critical areas being tested right now, which leads me to believe there will be a big move once it breaks. The question right now on everyone's mind is do we double top or make a new ATH. I'm in the double top camp for now, but that doesn't mean it's all over for bears if we have one rally to a new ATH for a couple of weeks. There's no reason to think it's impossible to keep rallying from here, I just think it is unlikely. We'll find out soon enough.
Don't forget about this week's economic data releases and earnings reports. It's a short week, but I see a lot of potential opportunity and there are plenty of catalysts for market reactions.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.