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Flag pattern or rounded top? That is the question. Are the markets in a flag pattern, resting before their next leg up, or does this action move into a rounded top, implying we’ve hit our highs for the next several sessions? Friday will essentially be day three of the markets resolving this, and the early action doesn’t suggest it has made up it’s mind yet.
The stimulus will seemingly get passed in some form and earnings season starts to wind down in the next week, so markets will be looking for a new narrative going forward.
Thursday: PEP, DIS, KHZ, DDOG