The Long Investor

$SPY TOP 20

Added 2025-02-12 15:25:06 +0000 UTC

When there is a Macro Impact on the market, we revert back to the charts.

When the CPI data came in hot today, the first two responses from myself and Vojtech were:

'The price action is retesting the 50 Day MA and the ascending triangle bottom line.

Support is being tested.'

Before anything else or jumping to conclusions, you revert back to where support is and if the structure maintained, it's the same for the market as it is for the individual stocks you own

$LYFT another example today, the 0.618 Fib held support after a lacklustre report and is now holding above support.

As was my commentary on Sunday, some sideways movement in the market under $610 can happen until $NVDA report their earnings in 2 weeks.