$SPY TOP 20
Added 2025-01-20 11:23:24 +0000 UTC$SPY is also showing a very similar set up right now compared to the $QQQ chart I have just uploaded.
The pull back came down to the 0.5 Fib instead but held and bounced very strong, back up above the green 1.618 Fib and the 50 Day MA to finish the week
So from a technical standpoint, the trend in the short term at the very least is bullish, so for me the Melt Up level at $631 remains the likely target next.
Week Ahead:
Short Week this week but it will be interesting to see how the market opens tomorrow, I suspect Crypto related stocks will perform well after this weekends activities.
Wednesday, January 22:
United States: Leading Economic Index for December. MarketWatch
Thursday, January 23:
United States: Initial jobless claims for the week ending January 18. MarketWatch
Friday, January 24:
United States:
Existing home sales data for December.
Consumer sentiment index (final) for January.
S&P Global's flash U.S. Manufacturing and Services Purchasing Managers' Indexes (PMI) for January.
Eurozone: S&P Global's flash Manufacturing and Services PMI for January.
United Kingdom: S&P Global's flash Manufacturing and Services PMI for January.
Japan: Bank of Japan's monetary policy decision; the central bank is expected to raise its key short-term interest rate by a quarter of a percentage point to 0.5%.
Let's enjoy this week and please take a look at the The LIT Sunday News that was uploaded yesterday and available in Collections.
