SPY "wrote" nice PS, let's see how it will create SC and AR. I think once it will be done, we will know that we are on accumulation phase. PS part is followed by downtrending volume.
We see Volume down trend from 28/02 to 09/03, I think, that currently we are on phase of "PS" (preliminary support), I believe that price will rise on low volume, and then will go down to "SC" (Selling Climax), which should cause to "AR" (Automatic Rally) with flat volume. Occurrence of this phases should predict future behaviour.
After Accumulation phase rally arrived to buying climax, if resistance will be tested with low volume the instrument might go down.Stop Loss above 26.68. Short under 26.67
