SPY/QQQ Plan Your Trade For 8-21 : Top Pattern Today.

I expect the SPY to move into a moderate bullish price phase, attempting to peak somewhere below 561-563, then roll into a moderate downward price trend - possibly ending the day near 553-556.

Why do I expect the SPY to roll to the downside after peaking today? My SPY Cycle Pattern shows a TOP pattern today.

Top patterns usually start with a moderate uptrend, leading to a peak in price, followed by a moderately sustained pullback/downtrend.

The 553-556 level is the nearest moderate support level.

The 561-563 level is just above yesterday's high and well into the SPY upper GAP window, which will likely act as resistance.

Buckle up because we are moving into at least 2~3 days of trending sideways before transitioning back into the rally phase.

Gold may attempt to move above $2570 today.

Bitcoin needs to find support, otherwise a breakdown in price in likely over the next 3+ days.

It should be fun to see how things play out this week.