SPY Bearish or moon shot?
The spy is in a major consolidation on declining volume getting ready for a big move. In the mid term, it looks like we are in a rising wedge on declining volume testing major down trend resistance and upper pattern trend line resistance. I think interest rates on the 1st will be part of the catalysts to send it back down to 388 or 381. If we start closing above these green and blue major levels(around 405, things would get bullish really quickly and I would look for 435 next on a massive spike in buy volume. I am short term bearish however and possibly midterm term as well but I'm undecided
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