The Long Investor

$SPY TOP 20

Added 2023-11-01 21:34:44 +0000 UTC

Big response from the Bulls so far this week, scraping to end last week at $410 and now sitting at $422 mid week.

Big earnings day again tomorrow, with $AAPL, $PLTR, $SQ, $SHOP, $LLY, $COIN and $NET all reporting.

The big one is $AAPL which carries the heaviest weight in the market, as long as there is no surprises, the market should manage to stay above $410.

The big observation today was watching how the price action handled the 200 Day MA and it rallied strong into the end of the day and finished just at the 200 Day MA, after the FED kept the rates unchanged.

Breaking above the 200 Day MA will be important. This will be a big statement from the bulls and this could happen tomorrow after the close.

But if we can end the week above the 200 Day MA, I think everyone in this group will be happy with this.

There has been no retest yet of the $410 level or the 200 Day, we know that a retest is vital to show where the new support is and if it is a higher low, then this will show us signs of a reversal.