You want to call this a Pennant... and yet there is a clearer pattern of higher lows. That makes you suspect that it wants to develop into an ascending triangle.
The IWM and QQQQ are much weaker than the SPY....
Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.
J. P. Morgan
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