The Long Investor

$SPY TOP 20

Added 2023-11-19 16:11:48 +0000 UTC

Very interesting chart here too for a number of reasons.

It still keeps pushing higher and we have not experienced any real pull backs here and nothing worthy of a Subwave 2.

So I have added in the white Fib levels here incase of a pull back and they are all at important levels.

But also, there is a gap to $441, which would bring this down to the yellow trend line too, which is also an area of interest for a pull back.

We can see that the 0.5 Fib is at the 50 Day MA and the 0.618 Fib is at the 200 Day MA on the daily chart, I don't think I have ever seen a more uniform alignment before.

I added a $SPY chart on Friday to show where there is a possible resistance level, at the white trend line, this may be where the fun ends and we get our pull back but until it happens, we still have to wait.