The SPY is screaming for a retrace down
We are waiting for a confirmation breakout above the upper yellow resistance line at which point we will enter a long towards the targets set forth on the chart.
Best of luck traders
We appear to have broken out of the wedge on the weekly. We need to keep an eye on this. Would like to see a little more movement out, followed by a retrace and a support at the wedge line as confirmation of the 'breakout'.
We will update everyone if we enter the trade.
Best of Luck.