We are inside the weekly range and coming up on the prior high. DECISION TIME. What will SPY do next? Sellers need to come in here at the top of this range if there's any chance at shifting the trend (LH,LL,HH,HL). If bearish bias, I would consider the top of the range to be low risk. If price moves above the prior high, price has plenty of space to try taking out the 100% level. Which would give way to market shift from bearish to bullish. I personally will follow longer term trend (bearish) and take a lower risk position at the top of this range keeping prior high as my risk. If longer term bearish trend holds, I expect a lower high to be established here and for a lower low to follow.
NOT FINANCIAL ADVICE
NOT FINANCIAL ADVICE