Here is an idealized representation of the pennant pattern:
Of course, right here on Slope, you can read all about it, and you can see examples stacked in SocialTrade. But the reason I bring it up is because, as you know, there are some big earnings after the close today.
In particular, Amazon will be the most-watched report, and it is perfectly poised for a breakout from its pennant pattern. If it breaks above it, it could easily enjoy months more worth of gains. I would be flabbergasted if it broke below this pattern, but if it did, it would be disastrous for the NASDAQ.
