SPY
An update on a previous post, but it appears the HnS pattern is still in play. The rising wedge break that a majority of traders were carefully watching, fell below the 50% fib of 263.85 on the daily chart, and has initiated the retracement to the neckline (≈247). Some big support at the 259 area, so expecting a battle there. Then next major support will be the 38.2% fib of 256.75. The smaller wedge pattern that is currently taking place should be played out by Friday the 25th to determine the direction of the proceeding week. A break below 260 will be further validation of the continued downtrend. If we end up moving upwards, then we could very well see 269-270 print.