SPY is currently at wedge trend line resistance.We have 3 basic scenarios at this point. 1- SPY breaks trend line to the upside to a near term target at top of CLONE. 2- SPY consolidates down to lower trend line or the bottom of current channel before moving higher.
3- SPY breaks support at bottom current channel and corrects mid way or to bottom of reference channel.
CLONING works very well in conjugation with FIB. levels.
3- SPY breaks support at bottom current channel and corrects mid way or to bottom of reference channel.
CLONING works very well in conjugation with FIB. levels.