On weekly time frame, SPY has formed an Inside Candle. This pattern indicates there would be a downside breakout in the week of 13th Feb or the subsequent week.
If that happens, the first target would be 397.
If in the subsequent week of the breakout, the price opens around 395 or in simple words the trend continues then 382 would be second target with is a strong support.
SPY Trying to sustain above the trigger line still!! Moment below 4071 could bring Havoc in the US Market, Most chances are to be occurring around Next week !
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py has continued this rally now for 11 years straight , now it's time to prepare some shorts on it, Most probably in a month or two we can see it down dramatically. And we have hit fib target.
