Overextended, the blue lines are explaining W pattern target that I had since the beginning. 4H RSI overbought massively, and combining with stock market that is due to correction this I expect drop to 2000 levels before I long again.
Spy was running green since 278 bounce and no real correction happened since. 313 is fibonacci 0.768 resistance, january 2018 top of the megaphone wedge, march top. RSI is also very overbought on all timelines. I am looking to healthy correction to around 295, where we have mother of all supports 200MA, 200EMA, 0.618 fibonacci, and fibonacci golden pocket.
