SPY is following 2002 playbook, but at a much faster pace

31 mar 2020

Expect a new low around 180, then hold on to your hats.

13 apr 2020

Nota

SPY double bottomed at the 0.236 fib level, didn't break through and moved higher to test the 50% retracement. The most probable scenarios right now are either

1) a bounce off the 270 structural high and a retest of the 50% retracement
or
2) if 270 doesn't hold, a retest of the 0.382 FIB retracement.