$SPY TOP 20
Added 2023-11-07 16:24:21 +0000 UTCThe 1 Fib at $36.86 has been a resistance level in October from the 10th to the 17th and the price was not able to get above this level, it was then met with a very harsh decline.
I think the price will have an issue here too but the pull back I believe will make a higher low, this is what we want to see to show that we are in Wave 5.
The 200 Day MA is still at the 0.5 Fib at $423 so this is the action area that we should be watching for.
The Bulls have been relentless this month but as always, structured counts are always preferable to pumps and squeezes, we do not want the count to lose structure now.
