It’s been overextended after a strong rally, with key indicators like RSI showing overbought conditions. Currently in W5 leg with Treverse and EV3 showing excellent footprints on when turns will happen (see chart above!). Waiting on these indicators to fire for confirmation.
Additionally, economic uncertainty, rising bond yields, or upcoming Fed decisions could trigger profit-taking. Markets rarely move in a straight line, and healthy pullbacks often follow extended runs. Let's see what the week brings!