$SPY may be developing a flat correction, with the current structure showing signs of a possible larger corrective move.
The overlapping A-wave decline followed by a B-wave recovery above the previous high keeps this interpretation on the table. If sellers regain control, a deeper C-wave decline could become a credible scenario.
The key confirmation remains a decisive break below the A-wave low around 7,560, ideally accompanied by a clear impulsive decline rather than a weak drift lower.
For now, this is a scenario to monitor, not a prediction. Let price action confirm the structure before taking a directional view.
Evidence over certainty.
DYOR (Do Your Own Research).
The overlapping A-wave decline followed by a B-wave recovery above the previous high keeps this interpretation on the table. If sellers regain control, a deeper C-wave decline could become a credible scenario.
The key confirmation remains a decisive break below the A-wave low around 7,560, ideally accompanied by a clear impulsive decline rather than a weak drift lower.
For now, this is a scenario to monitor, not a prediction. Let price action confirm the structure before taking a directional view.
Evidence over certainty.
DYOR (Do Your Own Research).