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|Includes: SPDR S&P 500 Trust ETF (SPY)

After completing Wave 5 of the bull run; SPY has now worked out 3 minor waves of WAVE 1 in the new bear trend.

This chart shows the true trend line of the bull wave; and calculated FIB pivots.

One of these areas should be the end of minor IV bear, before we move to minor 5 low to complete this first bear wave; sometime late June or early July.

Tim Kathlina

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.