I've been anticipating a correction off the $10K-$10.5K area for a while. It's a major horizontal resistance area on the long term charts due to past pivots/failures. It has technical importance too: the market hasn't made a higher high pivot since June 2019, so bears have strong motivation to attempt a selloff before that happens.

The bullishness is hard to deny though. The way this consolidation is panning out, I'm beginning to doubt we'll see any lower than the $8,800s where the 200-day MA is.