SPY/QQQ Plan Your Trade For 2-6-25: Counter-Trend RALLY

Today's pattern is a counter-trend Rally pattern. I read this as a downward trending type of rally phase/bar.

Much like yesterday's rally in the markets. Today should be just the opposite - a downward trending bar.

I believe this is a move downward setting up the Deep-V pattern which should hit early next week.

I suggest traders prepare for a rollover-topping pattern near this upper resistance area and prepare for the markets to move downward - seeking support.

Gold and Silver will likely move downward as well if the market does roll over, as I suspect. Gold and Silver tend to move downward when the markets shift into a downward trend.

Bitcoin is trapped within a range (again), and it appears that over the next few days, it will attempt to move downward with the markets.

Again, the next four to five days will be a do-or-die type of move. I've been telling all of you this Deep-V breakdown will happen for more than thirty days, so I'm watching to see if it really does happen.

Either way, it is now a bad idea to take some profits near these highs in preparation for any potential breakdown.

Get Some.

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