$SPY pullback before new ATH

SPY DAILY CHART

SPY is currently in a larger degree 5 wave move to the upside. We are currently forming that 5th wave on the larger degree, potentially also trading in the 4th wave of the intermediate degree

- A gap down would likely confirm my analysis, pulling into our wave 4 target zone

- If we hold, watch for a leading diagonal formation, targeting ATH

Alternative:

- Wave 4 is a WXY and we are only now forming intermediate wave 2