SPY/QQQ Plan Your Trade For 2-24-25 : Breakaway Pattern

Today's pattern suggests the markets will attempt to make a Breakaway move.

I believe this breakaway will be to the downside after watching the rejection near the 609 level on the SPY play out and the breakdown of the Excess Phase Peak pattern over the past 2+ days.

However, if the breakdown I suggested (above) does not happen, I suggest the markets continue to FLAG SIDEWAYS into a FLAG APEX near the end of this week.

The SPY's trend is such that I see it either breaking down hard over the next 2-3 days (confirming the Excess Phase Peak breakdown) or stalling back into the FLAG formation and reaching the Apex near the end of this week.

That means traders need to prepare for one of two major price events: a continued major breakdown or a consolidation/reversion back to the 605-608 level within a sideways FLAG.

What I expect is a breakdown in price. That seems the most logical. But, after watching the markets continue to flag sideways over the past few weeks, I know the markets can stay illogical for longer than I can try to short this top. lol

Gold and Silver look ready to rally. This could be a huge upward move and very powerful for skilled traders.

BTCUSD looks ready to break downward. And I think a breakdown in Bitcoin would be timed with a breakdown in the SPY/QQQ as well.

This is going to be an interesting week. Start off by letting the markets try to settle today (for the first 10 to 30 minutes). You can't kick the markets to do what you want.

After watching this moderate pullback in pre-market trading, we need to see how the price will attempt to trend.

Get Some.

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