SPY Smart Money Tactics

A big head and shoulders is forming. Retail traders shorted on the bearish engulfing pattern, but smart money pushed prices higher to the supply zone. This caused retail traders to buy to get out and caused others to go long providing liquidity for smart money. Now that there are no more buyers left they are going to start marking down prices to various levels in 3 steps. The black lines are anchored VWAP from the weekly charts. The retail traders who buy on the 200 ma will provide liquidity for the Big boys when they push prices down for the third time at a strong support level. The final level is also the measured move for a head and shoulders pattern.