I tend to revisit Elliot Wave Theory (EWT) frequently when considering proxies for the market, such as the S&P 500 and the NASDAQ 3000, especially over large timeframes. My recent revisit to EWT seems to have uncovered SPY playing out its 5th wave in the macro trend and currently writing its first corrective wave. Catalysts including inflation and Federal policy statements have only made the EWT analysis of SPY more interesting.
Elliot Wave Theory Analysis; SPY by acappy99 on TradingView.com