The two-sided trade may now be on. What we want to watch as the day progresses is how far the initial retracement carries to the downside. If today is going to close on/near its highs it’s likely the range that gets established will have a shallow extreme.
Breadth has been robust all day and should continue that trend. The high in breadth, so far, is + 1700. That’s not what you expect or want in a market that just traded to all-time highs, but it’s early and breadth can still expand dramatically in the last hour or so of the cash session.
Breadth should not trade much below +1500 by much or for long, and as usual, it is the TREND of breadth that is critical.