A Purely Speculative Thought for $SPY

Just adding a thought to my earlier thought about how we’ve retraced an appropriate amount for a two (and you can see we came right to 61.8% on $SPY with today’s dump—the smaller orange box in this chart here). It is feasible, as in the other post, that we rally straight up from here because of that, but there are still many alternatives available to us.

Because I am still hoping that we’re in a bigger (minor, green) wave four, we may even see something exotic like a triangle. They can take many forms, but here is one example. Just something to keep in mind it we refuse to take out lower lows but also don’t take out higher highs and if things get disorienting, keep patterns like this in mind as structural possibilities.

SPY


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