But lets consider a few things:
1) Max pain for the SPY is 126-127 and OPEX is Friday. That would be a few points down from here
2) We have daily MACD divergence. A down move the next couple of days would confirm it.
3) Assuming it follows that, then we would have the first red weekly candle in 8 weeks.
A bunch of if's (as always).
But if this is a top, I would expect a ~10% pullback, based on the wave count I have been showing recently. I have identified a few support levels.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiLlAL6fA1tri5nmhQyk-Rb-dV8UtF-Ycm1u7W5bhri_KmeHc7TgUw6szmNG1kM5hpf3w0JfSYy96LTnN_6VbwYbZs3TKew7xmEDfm7dVVieYKvW6uQ2wz-2gVS18-A0MM9jrL19nc4bvSb/s320/001-binve_01.png)