Jigstack

SPY - Still targeting higher prices

AMEX:SPY   SPDR S&P 500 ETF TRUST
Currently forming a 4hr megaphone. A caveat to these patterns is you can gauge the strength or weakness depending on where support/resistance is found. Notice how price failed to tag the bottom of the megaphone before this runup. In my mind, this is a sign of strength and price likely consolidates before moving higher out of the megaphone. Looking for 510+ by Feb/March.
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