Stocks have rallied quite a bit, making a run for new relative highs. It appears they have just completed an impulse wave, so watch for a pull-back or sideways correction. If this is the case, we can expect stocks to range between the levels drawn, or retrace to lower levels and bounce as drawn with the arrows.
Here are the corresponding technicals for MESM2020. Avoid fomo-ing into this trade. Wait for a good dip to 2911 or so, right at the Fibonacci level