Another pennant is forming, but we is as clear as it seems?

A pennant is forming and normally this will indicate a breakout, but we are very, very high above the 50 day EMA.
This normally indicates a correction coming.

If we play the pennant, we should have a break out to about 1500 or 1600

If we play the EMA ... we should see a 10% correction.

So, as always, have stop orders ready and trade carefully.