spy 3-21 update ~
good afernoon,
i think it's clear that spy is in a corrective phase,
and it's been quite a tricky one, but i think i've put the pieces together after observing dozens of other key data points.
got a feeling es continues to grind up until around april 1st.
i might top out closer to 4550 before then, after which it'll begin to move sideways in a phase of distribution.
around april 1-2, got a feeling we see that pivot to the downside that takes es down to at least 4000, potentially slightly lower.
ps. it could also run a bit higher, to 4647ish (0.786 retracement), to create further confluence with that 4000 [psychological level].
i think it's clear that spy is in a corrective phase,
and it's been quite a tricky one, but i think i've put the pieces together after observing dozens of other key data points.
got a feeling es continues to grind up until around april 1st.
i might top out closer to 4550 before then, after which it'll begin to move sideways in a phase of distribution.
around april 1-2, got a feeling we see that pivot to the downside that takes es down to at least 4000, potentially slightly lower.
ps. it could also run a bit higher, to 4647ish (0.786 retracement), to create further confluence with that 4000 [psychological level].
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