The Long Investor

$SPY TOP 20

Added 2023-10-23 16:53:09 +0000 UTC

As it stands the $SPY is back above the 200 Day MA in mid day trading.

Market opened and the price fell as low as $417.80 and went in between our red parallel lines, which is a historical support and resistance zone, with $410 being the absolute minimum that $SPY can go as low as to maintain its impulse wave. The price has bounced quite well since sinking at the opening and being above $423 is a welcome price to be at right now.....considering the possibilities that could have happened today.

The US 10 YEAR is back below 5% now too, so this is helping the market.....we need to see more of this.

I would love to say that we are out of the worst of it now but it is too early to say this, we have not seen enough and it has only been a couple of hours into the market day.