SPY full recovery incoming?
Updated
A major macro move is coming for the stock market.I think this structure looks really good, has a solid volume profile, and best accounts for why the major resistance(Orange) was so easily taken back from my last update. we were just consolidating within the pattern. On a break up, I am looking for 435 and possibly a revisit the all time high. On a break down, I will looking for 351 again. Technically, since the trend is down and this is a continuation pattern, it would indicate 351 would be the next move. But I m honestly neutral on this structure for the time being. I'm going to digest this new information for a bit. This will have MAJOR implications for crypto in the medium to long term.I think in the short term, since we closed above major resistance, we are going to get continued upside to the 403-405 level to test the major trend line. This will help BTC and crypto in the short term be able to breath up to the 25.3k level. If it is sustained well enough, we could go higher(32k) but I am playing it level by level. I am going to sit on this new information for a bit to digest it
Note
here is the volume profile on the monthly for a clearer picture
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