The Brains Trust, page-9212

I've been hiding out in @Jako8557 s Weekly charting thread for some time now, it's been a great learning experience, still sooo much more to be learnt but small steps conquer great mountains
Just thought I'd share my long term SPY Monthly as it's fullfilling an Accumulation structure with the Selling Climax at Y2K and late 2016 Jump Across the Creek.
Backing up action can pull back to up to 50% of the range and still remain valid however it's purpose as a Back up to Edge of Creek is to test the breakout of the Trading Range and if successful continue on to Markup, the BUEC is the ending point of the reaction or pullback to support that was formerly resistance, on diminished spread and volume after a MSOS.
Just hadn't seen anyone sharing this view so thought I would
Cheers HF