$TRAN is confirming dow theory and stochastics are embedded, and unless stochastics close below 80, dips will be bear traps. There's no double top on this index.
Markets will either consolidate into a new base prior to a renewed high, or degenerate back into a continued downtrend.
For now, I expect markets to remain in a sideway pattern until something more defining arises from job-related fundamentals, or the Fed defines a more concrete rate-related agenda, imho.
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