$SPY TOP 20
Added 2024-10-23 18:27:23 +0000 UTC$SPY is pulling back to the rising wedge support line now and testing it now, losing this level and the price can fall down to the 50 Day MA which is conveniently on the previous ATH line at $565.
Unless this level is lost, I would not be altering any of my positions or believe the market has started its correction yet.
We know it's going to happen soon, as we are in Wave 5 but we need confirmation of it happening before we react.
Big earnings are coming up and they will influence the market and if earnings remain strong, then we could quite easily be looking at the Melt Up Scenario to $632.
