$SPY TOP 20
Added 2025-04-03 19:47:25 +0000 UTCThe last 24 hours have been a ride, many will want to forget about it quickly but I believe we have taken the right approach to this pull back and the vast vast majority of people have embraced it and can see the opportunity ahead of us in our group.
I can not see any other group, or chartist able to do what we have done here and we have been all over this.
The more we know, the less we fear.
The Melt Up scenario is now ruled out and and I am looking for a decline to the 0.38 Fib to at $512.
A retest of the $550 level will likely happen tomorrow or early next week but the trend is clear to the downside, so a retest followed by a rejection can happen next.
In this pull back there is only 3 waves so far, Wave A typically has 5 waves, or Wave X has 3, which is also a corrective wave, so we will need to see how this develops.....the structure in this pull back is implying an overshoot of the 0.38 Fib right now, so the 0.5 Fib is possible too.
I will continue to update this every day as the structure develops.
Capital preservation is the aim right now, Cash will be king shortly.
Comments
Spy dropped to 515 in pre market
Rob
2025-04-04 12:18:47 +0000 UTCOh my…I just woke up and my goodness things got worse.
John Spiropoulos
2025-04-04 11:06:10 +0000 UTCIf I understand correctly, a wave (corrective or motive) can only be 3 or 5, not 4 waves. And we are in c of A of ABC
G4Golf
2025-04-04 06:39:22 +0000 UTCLooking on the hourly chart for me it seems like we are currently in wave C. Wave B may was very shallow as it was on $HIMS. But lets see how it unfolds.
Florian
2025-04-03 20:36:03 +0000 UTCThe good news on this, the US10YR is following too. We needed that to come down before the next leg up
George
2025-04-03 20:16:09 +0000 UTCBro what is the contrarian view to this? What if Wave A is only 4 waves and we don't go to that 318?
Karan Talwar
2025-04-03 20:15:29 +0000 UTCAppreciate u cap
Dom
2025-04-03 20:04:45 +0000 UTCThanks for the analysis and update!
NR15
2025-04-03 20:02:42 +0000 UTC
