There is a large scale potential bearish pennant forming on the daily chart. The pattern will become active only on a sustained move below the lows of the pattern, currently at the $525 area. If the pattern becomes active and completes, the downside objective would be to the $460 to $450 area. The pattern would be voided completely if price breaks out above the top of the pattern, last at the $545 area.
Happy demi-anniversary, stock market rally. Will the honeymoon ever end?