$SPY TOP 20
Added 2022-12-31 18:11:47 +0000 UTCLet's look at the daily chart now because we tend to focus on the 1hr chart for updates during the week.
This is another chart where I have added in the alternate amber line. I added this because it mimics the previous Wave A for Spy between Jan 2022 and July 2022...the upper trend line in amber tends to be an big influence so it is always possible that the market may test this again before going down further.
Ultimately both Wave C's will come down below 300.
What I am basically looking for here is if we are in an ABC count (amber line) or in a 5 wave move down (in red)
As the weeks go on, this will become clearer.
Buy zone considers both options here.
