$SPY TOP 20
Added 2023-08-23 11:02:03 +0000 UTCI uploaded a Morgan Stanley chart to the Telegram group last night where they spell out the worst case scenario.....possibly if $NVDA brings down the market later today and its in line with our Top 20 updates over the weekend.
Most beat up stocks are edging closer to the 200 Day MA and so it is likely a spot where the $SPY will retrace to if the market takes a terrible turn, THIS IS THE WORST CASE SCENARIO, I am talking about this so we are prepared for all eventualities.
If the $SPY pulls back to the 200 Day MA at $412, the impulse wave is still valid, as it does not infringe on Wave 2 and this is the Wave 4 pull back.
So this is not outside the realms of happening, it is a very real possibility.
If this does happen, I will be buying a lot of $SPY here and adding to $AMZN as my main priority.
My projection for the EOY of $500 remains the same for Wave 5.
