$SPY TOP 20
Added 2024-05-08 18:04:55 +0000 UTCDefinitely appears to be a battle on our hands here at the 0.78 Fib at $518.29.
Price level got tested yesterday and held short of breaking out, price has not been able to retest the level again today as earnings continue to churn out with some wild swings.
$SHOP being the obvious offender today to put pressure on the market.
It is still all to play for and more earnings are due out later after the close and again tomorrow too.
Right now we only have a 3 wave bounce to a resistance level but I do believe IF $518.29 is converted to support then the bulls have it to another higher high until rate cuts happen.
I would prefer to get the ABC correction out of the way sooner rather than later.
Comments
Wrong
필립 이
2024-05-09 19:22:24 +0000 UTCDo look at the invalidation scenario where we break out to new highs
Surbhi Verma
2024-05-09 06:30:13 +0000 UTCHey Captain, if the bulls take the .78 does the Wave 5 get moved over?
Brian
2024-05-09 01:36:33 +0000 UTCGolden cross (50 crossing 200) to the up on hourly.. not sure how it’s gonna play out
sudheer polavarapu
2024-05-08 18:35:59 +0000 UTCMy Sept hedge $490 puts are bleeding, want to avoid selling just for a fake breakout. Decisions decisions lol
SD
2024-05-08 18:29:26 +0000 UTC
