SPDR S&P 500 (SPY)

[2bit-nothing]

Folks,

Thanks a million. I think I come to a clear conclusion based on all your contributions. Look at the chart below.

(1) Yes YRT1, it is a rising wedge and EMA50 being below EMA200 is a show of the lower energy level.
(2) Yes Denmo, correct,the original channel is not a valid channel and I have redrawn it.
(3) Yes Snoot, the wave C is complete, and I consider the whole up swing from July 6 as one momentum swing and anticipate a .382 retrace which falls into the lower channel and touch OEX 490 (SPX 1080)
(4) SD, the VIX is actually coming up, a temporary hook down and continues up and %William is heading down
(5) My other short term indicators point down and no buy yet and arriving at 1080 is an AB=CD formation.

Thank you and have a good night

2bit