After a second look at the big picture and to the smallest details, SPY run might have one more leg. Here is a look at the Elliott Wave after the ascending wedge/triangle and previous two Elliott Waves.
You can also take a look at RSI and the VIX indicators and as you can see the RSI is near overbought. The VIX is hugging near a fib line acted with the small correction on March 15th, options expiration date, acted different than most thought. Although the heavy volume options expiration could have acted as a magnet and price could have gravitated towards options with highest open interest.
You can also zoom out on this chart and notice that we are brushing up against the 50% Speed Fib Fan resistance.
Below I show how to drag and drop MACD indicator to better line up Elliott Wave.
Best way to follow this chart, and go back to 2009 bottom, is to hit the "make it mine" button.
You can also take a look at RSI and the VIX indicators and as you can see the RSI is near overbought. The VIX is hugging near a fib line acted with the small correction on March 15th, options expiration date, acted different than most thought. Although the heavy volume options expiration could have acted as a magnet and price could have gravitated towards options with highest open interest.
You can also zoom out on this chart and notice that we are brushing up against the 50% Speed Fib Fan resistance.
Below I show how to drag and drop MACD indicator to better line up Elliott Wave.
Best way to follow this chart, and go back to 2009 bottom, is to hit the "make it mine" button.