SPY about to break out OR fail?

The week to close leaves Friday (today) and currently, the weekly candle is looking really really good... A potential weekly break out is in the cards IF Friday can hold current levels and/or rally further above 400.

Furthermore, note that the MACD is in alignment for an uptrend. albeit the VolDiv is slightly less than ideal, being flattish-ly up trending somewhat.
Also, this should be the third weekly close above the 23 week EMA ... and what we really want to see is a close above 410.5, for a higher high.

DeMark Sequential started as this week is the third candle, and noted that there is no completed Buy Setup since late 2022 when the down trend started. Oddly, without a completed Buy Setup, the primary trend is actually UP, which suggests this deep retracement is about over.

IF all goes really well, expect upside target at 442-448, a good 10% upside.

For now, this is just a technical heads up and plotting of the next couple of week's projections.


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