Spy Entering Choppy Zone While Being At Top Of The Tread Line
If we zoom out on the daily and look at the area SPY is getting ready to tap into we can see its entirely possible for it to break this tread line but buy doing so it will enter into a notoriously choppy zone. It could spend days there before having a break out and then it has the chance to go up or down after the chop. You can see here when it broke to the upside it didn't spend too long there. Meanwhile when it broke to the down side it did so viciously. Very curious to see if we get the Santa Rally break to the upside for December and we get choppy and then as it comes back down before cracking into new lows. Play price action on the daily, this is just a bigger picture look at things. Anything could happen.
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