$SPY TOP 20
Added 2023-11-17 05:36:55 +0000 UTCI am just looking at possibilities about where we will start getting our pull back, as this Subwave 1 of Wave 5 has been moving vertically.
The white trend line is a strong possibility at $455 for two reasons.
1. Being a clear resistance trend line
2. If we draw Fib levels from the $409 low to $455, where does the 0.618 Fib finish?
Exactly at the 200 Day MA at $427.
A coincidence like this is probably something we should not ignore.
I have also added in where the Subwaves of Wave 5 can go to if we can get Subwave 2 to come back to $427.
A conservative estimate would have Subwave 5 of Wave 5 finishing at $520 at the 2 Fib.....this could have no issue melting up and going to a higher Fib level.
