Strong, persistent moves often do not roll over immediately. Real persistency can set up a situation where strength begets more strength. An example of that concept was triggered with Friday’s setup, where we had the 1st down day after 5 consecutive higher closes.
Initially there appears to be a moderate inclination for a bounce. Once you get out 9-10 days the upside edge appears very substantial. Based on this, there appears a good chance that the dip that started Friday may not get too far before the market again moves higher.