$SPY TOP 20
Added 2023-06-26 05:29:40 +0000 UTCThe $SPY behaved very similarly to the $QQQ this week, what we should be watching for next is how the $SPY negotiates at the blue line at $431, which was the previous high resistance line and this pull back will be the first test of this line from above, I think it will dip below this line again and we can see that the 50 Day MA is coming up to meet our Wave 4 level here too, so this is a confluence point and a likely area for Wave 4 to complete.
I am not seeing that many concerns to this structure breaking down and turning bearish, all indications so far are showing that this pull back is healthy and may present a good opportunity to add to your positions, or as they say Buy the Dip but we know this as buying Wave 2 and Wave 4.
