The Long Investor

$SPY TOP 20

Added 2024-01-15 21:05:53 +0000 UTC

All eyes will be on $SPY this week to see if it can test or even break above its All Time High line at $480.

Although many believe the market has been weak this year, this is simply not true, it is about to make an new ATH....what has been weak is wild swings from crypto miners, the EV sector and $BABA, overall the market has regained all declines since the start of the years pull back so far.

The pull back was not significant either and did not come close to the 0.236 Fib or the 50 Day MA.

The main point is that the $SPY is about to test its ATH line, which is incredibly bullish, in fact it is the most bullish the market has ever been as its testing a new high.

So we continue to be in Wave 5 and there is a lot more ground to run before Wave 5 completes.

Stay the course and take advantage of individual stocks that have pulled back during this short market pull back.....$AAPL being the very obvious one.