Wyckoff Distribution Schematic Forming

6 Feb 2022

There is a textbook Wyckoff distribution forming on the SPY. We have just seen a large gap down SOW (sign of weakness) and a LPSY (last point of supply. We now see a retest to this resistance / early support level. The final phase of this distribution looks as if it is going to take place, which could throw the SPY for a huge plummet. It's about to hit the fan in my opinion. Any statement from the fed that is taken negatively will further this movement. Good luck to all, and watch for the price action in this time of uncertainty.