SPY make or break

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I am watching how SPY price reacts to the current resistance level. You can see how currently wave 4 low has not breached wave 1 peak. That is critical to hold for bullish perspective. Also the 1D MA200 has acted as support. If price can hold and advance I see a bullish wave coming to complete 5 waves over the next few months. If wave 1 is breached than I see new lows coming. a lot of indicators coming together right now.

Good Luck