Indices 13/06, page-47

I, respectively, don't see it this way. Technicals aren't the whole puzzle, but they certainly play a part. Nothing goes up or down in a straight line. Could the XJO hit 6500 this week? Absolutely it could. But I would say it's more likely that it goes up 100-200 points first and then heads lower. Look at the chart, it's been an absolutely brutal sell-off with no pauses.

This is the lowest daily RSI since the covid crash. Sure, inflation came in higher, and rates are going up - but this is overdone in terms of straight selling with no bounce.