$SPY TOP 20
Added 2023-02-22 21:23:13 +0000 UTCI always like to open a new chart and just draw from scratch, without EW theory and see if my projections overlap, it is also a good way to find something you might have missed, I do this constantly and I feel its a great way to not get complacent on your thought process or on one view.
This chart reinforces my bear case that I uploaded this week and at the weekend, it simply considers the basics of chart reading, without EW theory.
So from reading this:
- Wedge support at $396.53
- 200 Day Ma support at $393.20
- 0.618 Fib Support at $391.39
- 0.65 Fib Support at $390
If the $SPY does not hold $390, this could come down to $335. It is very possible
Also could continue in the wedge and then collapse.
