**READ THE TITLE** 454 is a huge pivot, it very well could be SPY is in a broadening desendijng wedge in fact has all those features including steep sell offs to support (semi flat top here). Worth watching bececause these are some of the biggest bullish patterns because as you can imagine they not only break out the top but the starting point at the bottom is huge from huge sell offs.
A) bullish desc wedge B) megaphone (not necessarily bullish vs just volatile) - could at least see retest 466s C) gaps down below 454 and sees maybe 452/451 where there is decent suport there as well.
Till SPY breaks and closes below 450 later this week and you are smoked and your theory is out the window. You need more indicators on your chart by the way. Damn. Why so little?