The Long Investor
patreon
$SPY TOP 20
🕑 Added 2025-04-14 19:43:25 +0000 UTCThe bounce since $481 has been complex, the waves are overlapping which is more aligned with being a corrective bounce but since it can also be the start of a new impulse wave, waves are allowed to overlap and this is known as a leading diagonal.
This adds to the complexity of calling this bounce Primary Wave 5 or Wave B, nobody can confirm this right now, it is simply not possible, any charts you see is speculation online of someone's opinion.
A rejection at the Wave B level will confirm the ABC correction however for us but we are not there yet
I believe the price action will continue up to subwave 5 as shown to the 200 MA on the 1hr chart and that will be 5 subwaves complete, we will then need an ABC pull back then to a higher low with this completing at $512 on the larger 0.38 Fib makes a lot of sense.
The overall plan remains the same as my commentary yesterday, we want the price action to test the 50 WMA at $566 over the next few weeks and I believe this can happen.
Comments
BA
So my TSP at fed govt is most C fund which tracks SPY. I should sell when it hits 556 then buy back at 512?
David K
so if we see 512 we should add, is that what it means
sahilpreet Singh
So complex. Glad we have you
Gareth Neary
Exactly this.
sahilpreet Singh
Or this is all just one wave subway A and we are expecting subwave B before competing C at $566?
Rag
Cap, would you be publishing the contrarian view as well periodically?
