The Long Investor
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$SPY TOP 20
🕑 Added 2025-04-07 19:48:18 +0000 UTCBounced exactly where it needed to today at $481, just slightly above the $480 level which would have been the Contrarian invalidation level.
Price also went as high as $523 with the 'postponement' confusion and is ending the day at around -0.7%.....which I think it is a modest win considering how bad today could have been and at times was.
So the big question now is whether or not Wave B is happening
I have added $AMZN twice now, on Friday and Today, so I am planning for a bounce for Wave B now, it is still not confirmed and there is still a lot at play here as news continues to be trickled around and Trump doubling down....there is a clear trade war happening now between China and the US, so this will cause tension
CPI, PPI and earnings are still due this week.....but we need a positive catalyst to trigger a move higher to complete Wave B
However, I am happy to continue adding $AMZN and possibly $NVDA next with the intention to catch Wave B
Comments
Sky 4Ever
finally cracked it...orange A B C is opposite of green A B C--i scratched my head so much to see why orange B is at 0.618 and orange C is below --unlike the green A B C on other charts
jp
So Wave B will hinder any ATH for SPY for the year?
JessyyRabbit
could todays bounce have been wave b?
mark_williams
What Would be your Next NVIDIA buy Zone - except the Ideal 61$
JG
The contrarian scenario is not invalidated yet.
Florian
Why are you so sure it's wave B and not the contrarian scenario?
Nigel
Given you already own some amzn, do you plan to sell all (or more than or less than) the newly purchased stock at the top of wave B? Thank you
