$SPY pullback before new ATH
SPY DAILY CHARTSPY is currently in a larger degree 5 wave move to the upside. We are currently forming that 5th wave on the larger degree, potentially also trading in the 4th wave of the intermediate degree- A gap down would likely confirm my analysis, pulling into our wave 4 target zone
- If we hold, watch for a leading diagonal formation, targeting ATH
Alternative:
- Wave 4 is a WXY and we are only now forming intermediate wave 2
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