📈 $SPY Consolidating!
• SPY has been consolidating for days and it looks like its making a higher high on the higher timeframes.
• Where is the higher low you ask? Yes that is the question I am asking myself everyday going into the seasonally worst month during Election years.
• Above is also the reason why I am sizing smaller and staying cautious. In a bull market though the drop you saw on the left is kind of rare to see but a break off the range lower has a quick and swift move lower.
• Any Oct shenanigans I would be buying the dip into the end of the year.
• Alright, back to focusing on the shorter time frames, We have a bear gap that is open and needs to be filled this week so that bull can have their rest for a higher low pull back.
• Target above remains the same at 575 ( Bear gap fills at 574) will act as resistance.
• Any shenanigans lower I do not see the market losing 560 currently and that is where I think the market will make a lower high in October. Buy the dip scenario get activated there imo.
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