$SPY Interesting day. The possible outcome of the B wave seemed like it failed. Tomorrow futures will prove what is right. Buying PUTS at the top here would of been a great move seeing how price action moved today. Personally I wouldn't be fooled into seeing futures up right now. Creating a Bear flag on the 30 min only to see this drop further in the morning. The 342/343 resistance proved solid. Bouncing down Bearish into the E/D support. Noticeable volume in the sell territory toward the end of the day. Next support should be around 333.00. This seems to be completing a triangle to either end this to finish the B wave/ ATH or hitting that resistance again and dropping into a C wave. Which can hit beneath 300 finding support low as 270. Happy trading!
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