Under the elliott wave principle this is my theory for the SPY
If you change to weekly time frame can see that we have at 160.27 the 1 to 1 proyection A)) to C))
And in the short term there are two near proyections for the end of the wave 5 of C) of C))
I expect the price end the movement near this zones and then could be a good idea look for reversal signals.
If you change to weekly time frame can see that we have at 160.27 the 1 to 1 proyection A)) to C))
And in the short term there are two near proyections for the end of the wave 5 of C) of C))
I expect the price end the movement near this zones and then could be a good idea look for reversal signals.