SPY Hypothetical Scenarios

Possible Hypotheticals are shown in the chart. A bounce and reclaim of 200MA is a great indication of a positive outlook for SPY.

FIrst possible scenario is we bounce off the 390 level and head back down to support and trade within channel.

Second possible scenario is we hold the 200MA and reclaim the 390 level, bounce off the previous level of 395, then proceed to ATHs.

Obviously, this is very over-simplified. There are innumerable scenarios. Just posting this for personal reference as well as hear other people's thoughts on the market.