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SPY - chop till you dropAnother possible bear flag on spy gets us to 383 by tomorrow or Wednesday, from there we may get a larger rally up, we'll have to see. Median line and my favorite target zone is still 372-370 area and hopefully it gets there quick so I can go long and forget about the markets for a while.
SPY - getting close to target zone I was wrong about a bounce here - they tricked me after open.
Next week 372 looks doable, maybe Monday depending on futures action. I believe that's the buy zone, although it could spike down lower into the 360's for sure if the panic is real.
Note the larger initial head and shoulders on SPY. That HS target is in the same area as the current bear flag target.
After we should have a June bounce and probably quite hard.
Dead Cat Bounce - or Cat on a hot tin roof?Hard to say at the moment which is happening, on SPX I'm looking for 4k to be clearly taken out impulsively today. If not, it's another ABC correction and we're probably going lower next week until we find a temporary bottom.
I wish you luck and a great weekend!