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SPY has Reached its Optimal Upside-Target Zone. What Next?
From a Point & Figure perspective, SPY satisfied my upside-target zone at 198-200 at today's high of 199.80, from where it has turned down, threatening to trigger a sell signal if SPY prints 197.40, which will violate a triple low at 197.60 (see below).
A 197.40 print will point SPY towards a test of its prior upside-breakout plateau at 195.00.
Only a preservation of support at 197.60, followed by a climb above 199.80 (200 print) will renew and reinvigorate the dominant upleg off of the 187.00 low.
