SPDR S&P 500 (SPY)

[Wishthiswasmyjob]

I see QQQ and IWM in
Downward channels and now the SPY beginning to follow.
I see IWM repeating what it did in the second half of 2018, a hard rollover.
I'm thinking ITB and XHB may be great short and holds here as they face a perfect storm.
Friday's bounce volume was very weak.
I see the Yen with a basing bullsh pattern, which has long been bad for stocks.
I see TSLA was also weak and IMVHO, the top is in on the FAAMNG's.
Look at them, downward channels since late April.
It will be very difficult for the SPY to climb with those heavyweights not rising.

Time will tell, but between now and the Fourth of July could be down hard and a put buyers paradise.
The put call ratio is also climbing.... Finally.