Looking at where prices are in proximity to the apex of this wedge, I’d say that if the US markets are going to break down & start moving lower (still favored) the breakdown will either occur today or no later than tomorrow morning. With that being said, prices are so close to the bottom of the wedge that it would only be prudent to wait for a breakdown before initiating or adding short exposure. Horizontal lines remain potential downside targets with the 202 area as the preferred target on the SPY at this time.
SPY 60 minute Nov 4th