this is the “melt up” instead of a “melt down” with market participants not getting the pullbacks to get in and seeing the market move away from them.
gravity is suspended for the moment.

But whatever the headlines; these market cycles keep us on the right side of the market.

weekly –
have met the 1187 target. the next target is 1221.
1116 will start a new short trade.

the time cycles turn down 4 -24. trade pressures are fully extended up.

Daily –
both time and trade pressures are extended up. two different time cycles turn down 4-23 thru May 11th.
the next upside target is 1221; then the area of 1238 to 1254.

a trade down thru 1172 would setup a correction to 1145 and possibly 1091.