Short term retracement.
To me this seems to be bullish over all . The weekly chart is coming out of over bought status. This was bound to happen. I think we all have been waiting for this correction. In my personal opinion,, it seems to me the world is doom and gloom. Jobless claims, pandemic variants, the rise of bitcoin, interest rates, dollar inflation, murder hornets, fuel prices, power outages, and more murder hornets. In reality the drive up has been on nothing but FED power.
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