A breakout of the range of a NR7 day is suppose to be a high probability trade. However, the NYSE Advance - Decline Line did not indicate an extremely bullish market. The AD Line was at the lowest of the last several days. Also, as the ES Futures made a new high, the dollar was strengthening against the EURO, which is typically negative for the stock market. The market actually did retreat from its high.
This may be a short-term topping process.
Charles
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