SPY Update: Following my path thus far

There really isn't much new to add yet for a big analysis. We moved down in a 5-wave move described in my last post and proceeded to move higher again as predicted. We did NOT make a new high, although we raised slightly more than expected and then dropped once again. I expect price to make another low and drop to the low $490's before a small retrace higher again. After that the strength and speed should pick up significantly to the downside as that will be wave iii of 3 of a of B. Until we get some more price action, I can't say for certain, but MACD seems to be backing this count at this time. This will most likely be the last time I post SPY on here unless something crazy happens this week.

Don't forget, beginning February 23rd (this Friday), I will be dramatically changing my posting schedule here on trading view. My last regular post / update will be on that day.