Nice chart, it’s tapping your overhead trend line as of today. Maybe a false breakout above to 140ish then back down ? I don’t think the overall market is done rallying yet. Rotation is happening too. Nice short if it follows your chart. I’ll be watching. Thanks again.
BullBearBlair
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@treytoyota83, Potentially a false breakout to $145 which is roughly the 0.618 Fib to act as resistance. Yes, it has definitely been quite a week in the markets. Checking SPY, looks like weakening daily volume with rising price which is bearish. I posted an idea in June/July about SPY reaching 490 area as a top for EOY/Q1 2024 when following a Wyckoff Distribution Schematic. It has played out so far, but as with all trading ideas....who knows what will happen! I appreciate the kind words