Expecting Upside on $SPY

The whole sloppy, overlapping mess that is $SPY‘s recent price action (orange ellipse) virtually guarantees that it is corrective rather than impulsive, meaning that we should eventually expect higher prices.

If we are close to a local bottom, we may expect a move to the orange target box above.

SPY

[UPDATE]: Since what I was looking for was the short-term rally pointed to below, and since I got it, I will file this under “Successful Calls.”

SPY

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