moonman777

correction time?

Short
AMEX:SPY   SPDR S&P 500 ETF TRUST
We have made it to the tip top of the ascending wedge inside of the larger wedge .
Theres been a good bearish divergence on the RSI this run to the ATH so the drop is inevitable.. I mean what can i say this is been a hell of a ride.
200 day is 8.5% away.
2 scenarios:

1. Bounce back up to the tippy top and briefly pass ATH to be rejected at the trend followed by a good drop and out of the wedge .

2. Continue the decline and start its descension towards the 410 range to test support and fill gap.

That's all folks