Tuesday evening SPY

SPY daily

 

Note the similarity of the current pattern to the one in the oval.  Break to new high, close lower.  Next day is a doji, denoting indecision, consolidation and probable continuation.  I think it has a good chance of tagging 139.50 on Wednesday.  That would be about -150 Dow points.

 

SPY 30min

 

Zooming in to the 30min, there's a breakdown from a small topping pattern.  Tuesday just looks like a weak bounce / consolidation.  In this news-driven environment, anything can happen.  But the pattern says lower to me.

 

Please feel free to grade this post after 4 p.m. Wednesday, lol.



Tuesday afternoon - SP-500

 

SP-500 quarterly

 

Prompted by a post from Jeffrey Cooper at Minyanville.  That sure looks like a top and a trip down toward 600 would not be surprising.

Tuesday morning