$SPY TOP 20
Added 2023-12-18 00:49:54 +0000 UTC$SPY is fastly approaching its All Time High Line at $479, a far cry from $409 only a few weeks ago, a lot of people are talking about the extraordinary run during this time and these are not normal times and this is not typically how markets move.
That being said Wave 4 was longer than normal and certainly relentless and the price is only above the Wave 3 high by $20's right now.
So this aggressive bounce is a by product of how weak Wave 4 was.
I suspect there will be some resistance at $479 and likewise for $AAPL too, this is badly needed and we may see more capital rotating into small-medium sized caps again this week.
$510 remains my Wave 5 target.
Comments
What’s the decline target after 510 ?
Ricardo Magdaleno
2023-12-25 12:47:04 +0000 UTC
