Two Possible Outcomes for SPY
As pointed out the other day, SPY is possibly unfolding in one of two structures, either a consolidating wedge (yellow) or a rising wedge (orange).
Since we have arrived once again at the wedge, we may gap down on Monday. However, if we are in the rising wedge, we may gap up again before then selling off.
In either case, I believe the rally is coming to its conclusion.
Since we have arrived once again at the wedge, we may gap down on Monday. However, if we are in the rising wedge, we may gap up again before then selling off.
In either case, I believe the rally is coming to its conclusion.
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