$SPY TOP 20

I have wrote a number of long commentaries this week on the market and the $SPY, so I hope everyone is up to speed at where we are here and what we are looking for, if you are still confused then please read our previous $SPY chart for a very long commentary, where I talk in detail about what I expect next and its implications.

In Short, we want a test of the 200 Day MA from below next at $572

Flip this level to support and the bulls can send this higher, rejecting at this level and the correction is confirmed for me

So this will be an important test coming up and a big week.

A lot may rest on how active Trump is this week and on Weds when the FED makes it decision on Interest Rates, I think maintaining the rate is the wise approach now but after a cooler than expected CPI and PPI, the FED may feel under pressure now to reduce rates.

Economic Calendar for the week ahead:

Monday, March 17:

• 8:30 AM ET: Advance Retail Sales​

• 8:30 AM ET: Empire State Manufacturing Survey​

• 10:00 AM ET: Business Inventories​

• 11:00 AM ET: SCE Credit Access Survey​Tuesday, March 18:

• 8:30 AM ET: Business Leaders Survey​

• 8:30 AM ET: Imports and Exports​

Wednesday, March 19:

• 2:00 PM ET: Federal Reserve Interest Rate Decision​

  • The Federal Reserve is expected to maintain current interest rates at 4.25% to 4.5%. Investors will closely watch the Fed's quarterly economic projections and Chair Jerome Powell's remarks for insights into future monetary policy. ​

Thursday, March 20:

• 8:30 AM ET: Philadelphia Fed Manufacturing Survey​

• 8:30 AM ET: Initial Jobless Claims​

Friday, March 21:

• 10:00 AM ET: Michigan Consumer Survey (Preliminary)​

These events provide insights into various aspects of the U.S. economy, including consumer behavior, manufacturing activity, employment trends, and monetary policy. Market participants often monitor these indicators to assess economic health and make informed decisions.