Information Wave

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$SPY is at a fork and it can take one way or the other

We are at an interesting point in the stock market and that is always the case in any given day, although this one juncture is special. The $SPY, what was looking like a ABC correction all along turned into a 1-5 impulsive move when we breached the $282 if you are looking at the cash index or $2820 in the etf market. What was an ABC is now a 1,2,34 &5 upwards move.

The moment the turquoise line broke the previous highs the trend is broken and ABC has now turned into 1-5 impulsive wave.

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