The Long Investor
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$QQQ TOP 20
🕑 Added 2025-05-04 19:16:35 +0000 UTC$QQQ and the $SPY finished exactly at the 50 WMA to end the week.
Are we surprised that the price action finished at this level this week? history has shown that a retest of the 50 WMA does typically happen when there is a fall down to the 200 WMA and that is how we played this and this is what happened.
And this was in spite of a LOT of mixed messages from Macro Influences, a very vocal trade war and a battle between the President and the Fed.
The chart does not lie and history can guide you.
I am very happy that I was able to guide you to this point and I hope many of you did not panic sell as Wave A was looking very weak, we knew a bounce had to come and we did take advantage of it.
Notice how we made NO SELLs, we only bought.
We only intend to sell IF there is a Wave B rejection.
And if there is no Wave B rejection then we have been able to keep all of our positions in tact and add some great companies on sale.
This week we will be watching to see if the $487 level can be flipped to support.
If it can then we are watching for a climb up to $527 next.
A rejection at $487 then we will be watching for a series of lower highs and lower lows but we will update throughout the week if we see this and I will alert if I sell any Mega Cap positions.
Comments
Pacus
Thank you very much Cap for your guidance, we will be waiting for your news 🙏
