SPY monthly make or break

SPY (SP500) monthly finished pretty strong but at the major resistance. February tells a story, meaning it has to close above the upper blue line and break this symmetrical triangle in which the price is now and continue moving up.

From a bullish perspective, SPY is forming a big bullish reversal pattern Inverted Head and shoulder and we are at the neckline. Therefore it needs to move hard and it needs to close the month above the neckline for bullish continuation.

From the bearish stand of view, SPY is in a huge symmetrical triangle which if broken could lead to a retest trend line which is formed at the 2009 low, several times were support, last time in the COVID low and that is near 25% drop from here. Volume is smaller than last month which is very bearish due to the fact December usually has very weak volume due to the holiday, so the volume for January doesn't confirm this price move. RSI is neutral while MACD seems like it wants to bounce from this level.