SPDR S&P 500 ETF Trust

SPY -Deep Crab Pattern Still in Play

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Update from last week. Deep crab pattern is still in play. Looking for the 161.8% extension of D point. That puts the SPY in the "decision Maker" zone (shown in green).
If the Spy breaks lower as shown by the pink trail, that would set up a better long term bearish play. We need to carefully watch this zone, as it could also be traded as a bigger diagonal pattern with waves 3 completed, wave 4 now in progress, and ultimately a higher wave 5 (red/yellow) as shown last week and again here. This is not my preferred choice!
But which way is the hound dog ( SPY ) gonna turn?
At this point in time, both different methods point down, so trading should be a bit easier. If we see some indicators at the area of the Deep Crab Pattern point D turning up, we should play for the red trail.
If we see SPY drop even lower than the Deep Crab (my preferred) that would be the clue to follow the pink trail with a "muted retrace" back up and not make a newer high... maybe a double top looking pattern?
To be more clear, there are 2 different trails. WE gotta be the tick on the hound dog and not get shook off the SPY .
Right now they both point down to finish the Deep Crab or break lower :)
My long term trend is way down to the 221 or lower.

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