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gowithetf

SPY 15 Minute Chart - Wave 4 today and then a down 5?

Short
SPDR S&P 500 ETF TRUST (BATS:SPY)  
gowithetf  
BATS:SPY   SPDR S&P 500 ETF TRUST
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SPY struggled with 1500 and failed to close below it.

It looks like we could finish the elliott wave 4 and could turn into a wave 5 movements.

The wave 4 could form somewhere in the gap and the wave 5 target is the 50 moving average on the daily chart.

Lets see what happens today. Your thoughts?
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