We could see the start of a substantial sell off Monday, probably. (one slightly more degree of positive than maybe)
I can't help but notice the Dow is a textbook Elliott contracting triangle The common move out is equal to the base (wave a ) and that would take us right to the upper channel trendline of the entire bull market from 2009 on monthly semi-log chart. A non-limiting feature in this triangle indicates it has a good likelihood of going further. Each wave is in precise Fibonacci ratio to the base wave a: b=.68a, c=.50a d=.38a. You don't see them with such perfect fractal symmetry very often. The bad news is with a triangle in this position the complete move down can only be seen as much larger degree A, not as bearish if it were a Wave 3 with massive impulsive structure. But first things first. I will be using that bottom trendline of the triangle to trigger a short position trade. I am comfortably retired and not privy to daytrading especially when the weather is nice out but sometimes I like to play the biotechs intraday when the market has got a solid intermediate trend going. Good luck trading everyone. I am becoming much more concerned about the escalating chaos within our White House than the markets. I have never witnessed anything like this in my lifetime and I have lived through an awful lot of shit!