$SPY TOP 20
Added 2024-09-29 12:58:03 +0000 UTC$SPY looks very healthy here as it comfortably moves up above the previous ATH line and moving to our Wave 5 target.
The 1.618 Fib level at $589 remains the target, anything above this level and I believe we see some aggressive movement in a melt up scenario.
It will be the final red flag for us to see, a parabolic move in Wave 5 will likely be met with a decline next as always.
So far, no need to do anything with this current set up, we are not seeing any rejection yet and there is still some more percentages to be squeezed here
We have our safe havens in place and our hedges against the US market in the form of Chinese ADRs, who have had their best week in over 4 years.
Everything has been going to plan, I'll continue to stay on top of this for us and we'll be ready for all eventualities.
