It is possible the market will move higher before consolidation but looking at weekly chart feels that a profit taking is very close and those who believe in Fibonnaci will see a possibility of around 6157 then 6014 or even 5900.
I am not a technical trader but looking at previous chart pattern one can see that market or stocks retrace after a certain pattern appears.
The trigger and time will come in ways that no one can predict and at the time least expected.
Everyone feels the market is bulletproof after a strong job number in the US but in reality there is no bulletproof market as risks are still there and when market is priced at perfection then the possibility of correction is becoming bigger.
I am wrong most of the time but this feels the risk is more to the downside.
It is possible the market will move higher before consolidation...
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