SPY is currently sitting at the top of this short term price channel with negative divergence. The question is do we fall from here or will positive earnings be enough to breakout and melt up higher. Generally I would short at resistance but with this market I am leaning towards a breakout that turns into a fake out.
It looks like AMC broke its established trend line back on the 25th and is coming in for a full backtest. If it can recover this trend line there is still another level of resistance right above at 60 so not looking too hot.. IF it can recover and hold above 60 then it could go straight up to 65 and/or retest the ATH.