Intersection

Looking at the SPY weekly, the gap is nearly filled from last Sept/Oct and now there is an intersection of resistance just overhead with the %50 fibbo, major downtrend line and the near term fibbo fan intersecting near 112.50. Will this be enough to create a near term top or do we break to the %61.8 fibbo level where the weekly 200ma is hovering?

Summer End

Labor Day signals summer end and may determine whether we proceed with a seasonal sell off at the current resistance level or continue to rip after a pullback.