Stocks have broken higher on extremely risk on news. This is a great example of NOT trading a head and shoulders pattern preemptively . What was supposed to be the right shoulder is now a higher high, and a bullish sign. On a broader scale this is likely an Elliott Wave sideways corrective pattern, which still has a ways to go before breaking highs. Currently, it looks like we are set to break higher, however watch for a short squeeze. The Kovach OBV has rounded off, and the Kovach Chande has dropped suggesting this could happen soon. Note there are three levels of support underneath the current price. In particular, 3356 would be a healthy dip.
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