$SPY TOP 20
Added 2023-08-13 21:31:35 +0000 UTCIn line with the Mega Caps Charts we have seen today, if you were to look at this chart, you would hardly expect any pain in the market but some individuals stocks are struggling, thankfully not many that we are watching closely.
The price has pulled back to the top of the trend line now which has been in place for 9 months now, if support is found here then Subwave 4 is complete and we should see a move up for Subwave 5 next to complete Wave 3.
The structure is far from looking like it is about to break down, with the trend line and 50 Day MA there as support.
If it does lose support, then we should feel this impact and some vulnerable weak stocks will be hurt.
Any changes to this structure during the week and I will update this.
Comments
Head and shoulders on the indices and big names. Your charts are mentally preparing me for what could come…Thank you
RandumbInvestor
2023-08-13 23:22:30 +0000 UTCBack to October '22 lows in 2025? Not good.
Steve Suric
2023-08-13 21:39:47 +0000 UTC
