Multiple patterns indicating a retrace of SPY to $264
The measured move of the double top (blue) is confluent with the measured move of the rising wedge (white). Both are also confluent with the 50% retrace of the uptrend shown in red. There is significant bearish divergence on the daily RSI. With the announcement of a 25% tariff on EU exports, it could be a very bad situation for the index. If the bottom of the wedge does not hold, there could be a retrace to $264 or lower.
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