BBUS, page-8509

For the bear case:
We are coming to the tip of the iceberg here, very close to ATH's. The price action has reached it's upper bound and there could be a healthy retrace to at least 3230/3200. Below that you are starting to create lower lows which would signal a trend change. There is a good possibility of a ~5% correction coming up soon.



The bull case:
We have been consolidating nicely in an uptrend, broken out of the wedge which has been forming since June. Approx 1.8% from ATH's and yet still no blow-off top. There is strong evidence to show that the markets are looking for much higher numbers from here. Short term I would say the probability is in the bear case for a 5% retrace, however if this week markets break through 3400 then the bear case is off the table.
The longer it takes the bulls to break through ATH's the higher probability markets will retrace. The market is still in a clear uptrend.



Let's see what happens