Is there a minor pullback looming in the market?
As always, we are not looking to predict what is going to happen in the market, just trade based off the information at hand and react. As you can see from the chart above, the 8 SMA has been technically supporting the stock in it's heralded move since Trump was elected.
Now, it appears the market is ready for a little pause. If we close today at these levels or lower, we could be looking at a small pull back to $217-218. We can't definitively say whether it will or won't happen, but it is definitely something to look out for!