SPDR S&P 500 (SPY)

[youaretheone]

Well, there is another longer term pattern that is playing out, and that would be a 20 year "M-A" pattern with SPX. Double top 1999 and 2007. We are now making the top of the "A", and the drop takes us to new lows... likely all the way back to 1990 levels. let's see which one plays out...


What will negate your interpretation of the market as you see it now? What level needs to be taken out? And are you not taking into account the broadening megaphone pattern on the various indicies?

Vix weekly is at long term support and it looks like we are going to make a double top "M" pattern. It needs to first break out of it's falling wedge pattern. Not too mention the incredible positive div. on that same time frame with the stochastics getting a bullish touch last week. Maybe get the cross over next week...