What an interesting week in the stock market we had. After pausing much of the week follow the moonshot a week prior stocks sold off yesterday. It look like we may get a pullback, atleast down to the short-term moving averages which would be nothing more than profit taking.
However, that would not be the case. After a sluggish start to the day nearly the entire market caught a steady bid all afternoon seeing the market close at highs.
It is an interesting looking chart right now...
The S&P 500 has broken out of the recent descending channel and looks like it wants to push higher despite being a bit over extended in the near-term.
In the end, it has been quite the whipsaw over the past month or so.