The long-term bullish case is still intact. The bumpy policy road was expected with Trump in charge. Investors are betting once Trump is done pleasing his base with executive orders, he'll become the dealmaker-in-chief on taxes and infrastructure and the other market-pleasing policies. Krinsky says the tape is telling you this much.
"The evidence for a meaningful top is lacking," wrote the technical analyst. "We would welcome any weakness as a buying opportunity, rather than viewing it as the start of something bigger."