$SPY update 5%+ correction then retest of highsOriginally I was thinking that we'd see a move to the $480 support after testing the highs, however, because we haven't fallen yet, the chart no longer supports that view.
Instead, I think the most likely scenario is that we fall on or after Wednesday 5/29 back to the low $500 area, then we go back to test the highs at $530.
The retest of $530, will setup the lower high which will start the bear market.
So basically there's one more chance to buy the dip in the low $500s, ride that back to the highs, and then you'll want to be a seller from July onwards.
Let's see how it plays out.