The SPY will drop after Jan. 19, when USA hits the debt ceiling

Jan 7

There is a triangle forming a peak around Jan. 19th, when the US hits the Debt ceiling. The weekly indicators are signaling a downward movement. The SPY will start to fall the week after Jan. 19th, hitting the bottom around Jan. 30th.

After that, I believe there will be a short zig zag movement (abc wave) where it continues to head down. But I will draw another chart if I think that will happen.

Jan 7

Note

After it hits the target around Jan. 30, the market will briefly go back up until Feb. 2nd, where there is a second deadline at midnight. The following week, the SPY will continue to go down.

Jan 10

Trade closed manually

I have re-evaluated the chart and I don't think it will happen exactly like this. I will post a new chart shortly.