AMEX:SPY   SPDR S&P 500
1022 4 16
After a second look at the big picture and to the smallest details, SPY             run might have one more leg. Here is a look at the Elliott Wave after the ascending wedge/triangle and previous two Elliott Waves .

You can also take a look at RSI and the VIX             indicators and as you can see the RSI is near overbought. The VIX             is hugging near a fib line acted with the small correction on March 15th, options expiration date, acted different than most thought. Although the heavy volume options expiration could have acted as a magnet and price could have gravitated towards options with highest open interest.

You can also zoom out on this chart and notice that we are brushing up against the 50% Speed Fib Fan resistance.

Below I show how to drag and drop MACD indicator to better line up Elliott Wave .

Best way to follow this chart, and go back to 2009 bottom, is to hit the "make it mine" button.
snapshot


More recent Fib Fan
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snapshot


Using the drop and drag overlay indicator tool to compare fast and slow MA with Convergence/Divergence
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