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SPDR S&P 500 ETF TRUST

Toast me or Roast me - I'm still learning & practicing charting

92
snapshot

I was looking at descending scallops and some of their features via thepatternsite.com/descscallops.html

What is valid or invalid about this charting here??

I have the high peak marked from the ATH that topped the uptrend on SPY and the most recent upward breakout prior to trending back down on the 1HR as of yesterday. I know I will only be able to confirm in hindsight but is there good reason here for me to say we have the makings of a long-er term descending scallop in play here?

Thanks to all. I enjoy reading your opinions and discussions on the daily.
ExtraGuacAM
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chartingChart PatternsFibonacciTechnical IndicatorslearningquestionsSPDR S&P 500 ETF (SPY)

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chartingChart PatternsFibonacciTechnical IndicatorslearningquestionsSPDR S&P 500 ETF (SPY)
ExtraGuacAM
Also on:

Disclaimer

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.