I am looking for GJ to continue to make Higher Highs and Higher Lows. The last time we were at this level with traffic was in 2016. There was a brief period of pass through all the way down to 131 back in January of this year and then back up past 135. We all know what news that was.
I would only look to short this if it broke below 134.546. I don't necessarily think we are in a sell zone if it breaks the upward rally line since this is a consolidation level after the short impulse move upward from the (reset) previous low/consolidation level.
I would only look to short this if it broke below 134.546. I don't necessarily think we are in a sell zone if it breaks the upward rally line since this is a consolidation level after the short impulse move upward from the (reset) previous low/consolidation level.