$SPY TOP 20
Added 2025-04-14 19:43:25 +0000 UTCThe bounce since $481 has been complex, the waves are overlapping which is more aligned with being a corrective bounce but since it can also be the start of a new impulse wave, waves are allowed to overlap and this is known as a leading diagonal.
This adds to the complexity of calling this bounce Primary Wave 5 or Wave B, nobody can confirm this right now, it is simply not possible, any charts you see is speculation online of someone's opinion.
A rejection at the Wave B level will confirm the ABC correction however for us but we are not there yet
I believe the price action will continue up to subwave 5 as shown to the 200 MA on the 1hr chart and that will be 5 subwaves complete, we will then need an ABC pull back then to a higher low with this completing at $512 on the larger 0.38 Fib makes a lot of sense.
The overall plan remains the same as my commentary yesterday, we want the price action to test the 50 WMA at $566 over the next few weeks and I believe this can happen.
Comments
So my TSP at fed govt is most C fund which tracks SPY. I should sell when it hits 556 then buy back at 512?
BA
2025-04-15 10:19:03 +0000 UTCso if we see 512 we should add, is that what it means
David K
2025-04-15 06:54:45 +0000 UTCSo complex. Glad we have you
sahilpreet Singh
2025-04-14 20:00:49 +0000 UTCExactly this.
Gareth Neary
2025-04-14 19:58:10 +0000 UTCOr this is all just one wave subway A and we are expecting subwave B before competing C at $566?
sahilpreet Singh
2025-04-14 19:57:18 +0000 UTCCap, would you be publishing the contrarian view as well periodically?
Rag
2025-04-14 19:55:54 +0000 UTC
