$SPY TOP 20
Added 2023-11-25 17:30:54 +0000 UTCWe are into our final week in November and this Subwave 1 of Wave 5 continues to push on....short week this week and not much progress has been made but the bulls continue to knock on this resistance line in white, $454 is the level and the price finished at $455 for the week.
I believe the pull back needs to come in very soon and this pull back will be nothing more than Subwave 2 of Wave 5.
Some individual stocks will get hurt more than others and the Mega Caps will likely only experience a few % reduction to their share price, between 5-10% but small mid caps could expect more and this is something that you need to be prepared for.
I do not want any member to be surprised that a pull back has come when we have been waiting for it for the last 2 weeks and have been patiently waiting to add to our positions.
$AMZN and $AMD remain my top priorities and both are looking extended here, a good pull back here and I will add here, and likely double my position in $AMD.
The 200 Day MA is sitting on the 0.618 Fib and the 50 Day is at the 0.5 Fib and our blue line, the yellow trend line is also a strong area to watch for support.
