SPDR S&P 500 ETF Trust

SPY: Elliot wave analysis: Big week ahead!

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SPY is currently trading in a tight range between key dark pool levels. With big earnings week ahead, we could break out of this range and make a significant move ( direction TBD). The market has been trading with a huge bearish divergence in fundamentals, momentum, and volume for quite some time now so will be nice to see a good correction to key demand zones before going to ATH but the market can be irrational so won't try to speculate direction. I won't be holding onto many positions overnight though as long as we trade in this range. Looking forward to next week as it looks like there could be lots of opportunities to make some huge gains.

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