Similar set up to the SPY. It can still come down to retest the .618 or .65 Fib at 270 and 269, if it finds support here, Wave 2 could then be complete and it has a good chance to break out of this channel. Failure to hold these levels and it goes lower than the previous low, then the bear case takes over.
Big earnings this week, a lot will happen I suspect.
Sid
2023-01-24 02:54:44 +0000 UTC