Updated

Triangle on the Daily SPY. Range Until July

I would like to propose a view on the market that I do not see anybody talking about and that is a range bound symmetrical triangle on the daily. Because price is now range bound, I expect price to be choppy and random. Will be harder to determine the direction. I still have a bearish bias and think SPY is headed to 260 minimum.

Out of the break out, price can retest 480 to form a double top for the real dump or as a continuation of the bearish move back to 260.

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The monthly chart of the SPY is telling me of a bearish continuation to 260 or a double top to 480. You can't have a bull run for 15 years without a major correction.

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The down trend line is no longer valid and has since evolved into a triangle

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On the Russell 2000, we have a down channel with price under a curling 21sma monthly average. That also coincides with the SPY with its slight bounce before a drop

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Russel 2000 on the weekly is going to be slamming into some major resistance overhead with the supply zone, monthly 21sma, downtrend channel top.

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Russel 2000 on the Daily Chart shows more detail

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DOW JONES is showing a double top formation before a major correction

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DOWN JONES DAILY CHART
Finer detail of the impeding 44% correction in possible July

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