The Long Investor

$SPY TOP 20

Added 2024-07-30 17:08:56 +0000 UTC

Remember the brief remains the same here, we have been preparing for this and we knew that a retest of the 50 Day MA was a possibility, it has been lost again today, last week this happened too but it was regained almost immediately, let's see if the earnings out later can help it regain.....or accelerate the sell off.

$QQQ is looking substantially worse that the $SPY right now, brought on by the continuous weakness from $NVDA

I am ready for this correction to take place and we have been waiting long enough, any bounce from here only delays the inevitable.

I will be watching for a lower low next here for $SPY below $537, we still need to see a retest of the 50 Day MA from below tho to confirm the downward trend.