The Long Investor

$SPY TOP 20

Added 2023-10-17 17:18:58 +0000 UTC

Very nice show of strength today from $SPY.

We have an ABC count now and $SPY went from deep in the red to complete Subwave C at the opening to making a new high now.

We can also see that the price is above the 200 Day MA which is at $435 on the 1hr chart.

So while many have been caught with their blinkers on glued to the $NIO share price, the market is showing more bullish signs and confirming its reversal.

More economic data came out today to show that consumer spending has been incredibly strong and this is BEFORE the run up to the XMAS holiday spending, which starts usually in Mid Nov now, so we can expect spending to continue.

I have doubled my position in $AMD today and this is already up by 3% today, because the market is bullish and we are taking advantage of buying the stocks we like when they pull back.

This is as straight forward as it comes.