$SPY TOP 20
Added 2023-07-23 19:37:25 +0000 UTCInteresting that my $SPY chart is not showing a pull back for Wave 4 just yet.....my conclusion from this is that a lot of Mid to Large cap stocks may benefit from a shift from Mega Caps to these stocks over the next few weeks as the market finds its equilibrium again.
We always use the 1.618 Fib as our Wave 3 target, so the same method I use to find Wave 3 on the Mega Cap charts, I use here....so we are seeing a big difference between them......but we have known for some time that the Mega Caps have been breaking away from the mean and the Top 8 companies have been holding up the market and taking the majority of the gains.
Will be interesting to see how this dynamic develops, so some companies will clearly benefit from this recalibration.
Comments
So 1.618 is standard .. is there any pre reqs that make you look at 2 or 2.618 ?
TommyJR
2023-07-24 03:15:29 +0000 UTC
