$SPY TOP 20
Added 2023-08-10 19:34:23 +0000 UTCJust above the ascending wedge line that has been on this chart for the last 9 months and we can see that the 50 Day MA is right there too....remember I see this as being Subwave 4 of Wave 3 and not a Wave 4 pull back, like we are in now for the $QQQ.
We can clearly see that no substantial pull back has come for the $SPY since Feb - Mar, where we got Subwave 1 and Subwave 2.
For clarity, if the price action does hold at the 50 Day MA and at the trend line, it would be a very shallow and short pull back, when you compare it to Subwave 2.
