7
What's the next whale pick? Let's see...
The SPY 101
In the last 101 pointed out that bulls wanted to test a high and a rejection would let us know what we needed (third yellow line down). Because they had previously tested lows—and backtested those levels—we knew a rejection of that high meant the test of a new low. We’ve highlighted the next target down, 6531, in YELLOW.
If the index holds that low, then we get a ROCKET up to test previous untested highs. If it breaks, then we sequentially test new lows; for my money, watch for a bounce.