$SPY TOP 20 UPDATE
Added 2023-06-07 10:44:37 +0000 UTCMid week update and this is still following our chart from the weekend update, moving up to the top of the trend line here, there has been very little getting in it's way here too.
Big tests next will be breaking above the red line which was the previous high and above that will be the yellow trend line, where I have set the Wave Y target in red, which is also at the 1 Fib level at 436....so a lot happening at this point.
It is difficult to see what the catalyst would be to stop this momentum, considering everything that has been thrown at the market.
Comments
Would you change your cash position based on this? If you rule the corrective out surely makes sense to deploy nearly all capital?
Jesse Gaffey
2023-06-07 13:45:04 +0000 UTCI don't know if i'm becoming bullish but the market has been tested a lot lately and has not altered its course, the corrective is still valid and may be the last test....after Wave Y, the bulls are in a very strong position.
Gareth Neary
2023-06-07 11:06:29 +0000 UTCAm I wrong or are you becoming bullish now? You don't seem to see a pull back anymore, right?
Bjoern Szymkowiak
2023-06-07 11:01:43 +0000 UTCNo, I prefer individual stocks right now
Gareth Neary
2023-06-07 10:50:42 +0000 UTCAre you considering an add anytime soon at these levels?
Jesse Barba
2023-06-07 10:47:23 +0000 UTC
