So far that bullish rising wedge on the SPY has played out as expected, with prices going on to break down below the pattern shorted after Wednesday's post, making a very minor & relatively swift backtest before moving lower.  While each horizontal line is a support level which could act as a price target to book partial or full profits, my preferred near-term target at this time is the 202.10 level.

Note: For day traders & active swing traders, in the new Trading Room (forum), I've posted a few 5 & 10-minute charts on the QQQ recently with entries & price targets for quick trades using leveraged instruments such as NQ (Nasdaq 100 emini futures) or SQQQ (3x leverage short ETF) & I'd welcome other active traders to share trade opportunities there as well. The front page of the site is reserved primary for market analysis, typical swing & trend trade ideas and longer-term investment opportunities.

SPY 60 minute Nov 6th

SPY 60 minute Nov 6th