Looking at the weekly chart on the spy it appears that it is a make it or break it week…notice how the candles on the weekly r very identical to the last rally, if spy can’t break out this week then this will be a double top pattern and the drop would be severe (lower lows), alternatively if the spy holds and breaks out to upside then the rally will continue and $430 will be the target…cpi data on Wednesday could be the deciding factor…best of luck to all.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.