The daily perspective shows stochastic at extreme overbought conditions which suggests a near term pullback/ consolidation could materialise. With earnings season underway, the VIX is showing signs of rebound higher which would give equity bears the momentum they need. Given the overextension in the most recent bull run we expect more than an intraday dip but rather a larger corrective structure that will provide better long opportunities. 

​

The wider trend remains strongly bullish in equity markets with upside biases remaining. The Nasdaq has followed SPX into new all time highs therefore further upside is expected for both markets.