Looking at the of the SPY ( S&P500 Index) and I see two possible outcomes in the next day or so:
- We test the 144.76 level and break down through it. If we do, we could be headed to 143-144.
- We test the 144.76 level resist and break out of the to the upside.
Looking at the SPY intraday 5 minute chart below and you can see the in more detail.
I would think we are going to test the low 144.76, which could be the 5th leg of this current . If we break up out of the , the 145.65 green line would be a resistance buy point. Would like to see a move above with some .