$SPY TOP 20
Added 2023-02-23 09:52:38 +0000 UTCCame all the way down to the amber trend line and holding here, I am leaving Wave 1 where it is now because there may be a bounce and retest again of this support, what we are watching mainly here for is a Wave 2 (red) bounce to get rejected at the blue lines or previous high and then to come down.
If it can break through the blue lines and the previous high, Wave 3 in green is on and Wave C. I uploaded a large wedge building here last night, it would represent Wave C here.
Still a lot of work for the Bulls to get this back trending in their direction and likewise Bears, will want Wave 2 to reject and make a lower high.
