SPY HCH ¿?State Street SPDR S&P 500 ETFBATS:SPYEsteban_Alvarez-PonteMy outlook for the next two weeks is bullish by 3.7%, as support and resistance levels form—creating the liquidity necessary for a downward push from a distribution zone. This move should feature a Break of Structure (BOS) at the 23.7% Fibonacci retracement level, driving the price toward the indicated target following the completion of an Elliott ABC pattern and the formation of a Head and Shoulders (H&S) structure. We are nearing an exit from the bullish channel (marked by green parallel lines), and, based on Elliott Wave theory, I estimate that we are currently heading toward the top of wave 4.