The Long Investor

$SPY TOP 20

Added 2023-04-17 05:24:36 +0000 UTC

I spoke at the end of the week that the price action is still under the important trend lines and on the outside of the bearish ascending wedge...however the price has been moving positively since the start of March, the RSI remains around the overbought territory.....for the share price to increase to Wave 3...the RSI would be extremely overbought then.

The consensus remains uncertain and although there are two camps here, I think the sensible minds would say that neither bulls nor bears have it yet. I believe, certainly above the wedge, the bulls have it and a strong rejection at the top blue line and trying to get back into the wedge and the bears have it....one thing is for sure, one of them is going to win very soon.

So What Now?

Big earnings week ahead as it properly kicks off, Banks again to start the week off with a number of big players throughout the week, $TSLA, $BAC and $NFLX being important ones. I imagine that these earnings reports will likely influence the direction we have been waiting for.