Spy.. Diamond topState Street SPDR S&P 500 ETFAMEX:SPYContraryTraderI was looking at QQQ earlier and I spotted a bearish Diamond top. Since the SPY is so tech heavy weighted I always prefer to use QQQ or tech for market direction. Usually when you find technical patterns on Qqq or you'll see similar on spy. This pattern indicates a range trade inside 740-755 for the next few days Like so And around Wed-Thurs we could see a possible breakdown.. this is all technical analysis but coincidentally The monthly Core PCE and GDP comes out Thursday . If I'm right and this diamond plays out then 705-710 comes from this move If I'm wrong, then spy breaks and close above 755 Then 780 is incoming The DJI just printed a weekly bearish shooting star. Daily chart at resistance Here's the chip sector SMH 1hr chart Rising wedge.. of the 1hr candle is correct and trendline resistance holds then we should see red early in the week on chips but the sell won't come until late in the week when this wedge breaks.. 1 sector finished really bearish and that's the banking sector $XLF. Xlf finished with a weekly bearish reversal here at 55.00 resistance and outside bbands Lastly IGV which is the software sector responsible for MSFT ORCL and PLTR finish with weekly 3 black crows . This bearish pattern indicates a 4 week of red is highly probable Im not just focusing on the small price action like the hourly, even when zoom out back to the 2009 housing crash spy has only broken this trendline once with the stimulus inject of covid And when you zoom in you can Where the diamond is positioned Log scale or logarithmic