Can go in either direction , the graph looks to me like it will go down soon, maybe a little up, but ALOT downward potential (in my opinion)
Notice the W shapes on the graph before it crash. (bearish bat)
i dont like the W too much... play SPY safely! except a surge of downward movement soon.
SPY is at a weird state where stocks have been breaking out as well stocks are undervauled. When one stock consolidates another one breaks out , spy goes up nonstop. but this wont last forever!
When the main overvauled stocks sell off it will shock the whole market and people will get scared
Puts on spy @ 318+highs , Calls on spy when 300+low