This Time It's Different, Again

From a longer-term perspective, the market remains overbought and over believed. Ron Insana helpfully informs us that he is no longer shorting it and adds, "I think that this time it's different."

If the fractal idea is to stay alive (which could probe 1760-1800), in my opinion, price needs to stay below 1878.61. If not, it is possible that price has just traced out an A and B leg of an A-B-C to "3" in the chart below.