The Long Investor
patreon
$SPY TOP 20
🕑 Added 2025-03-09 19:58:41 +0000 UTCI can not begin to imagine what it must be like for a new investor or trader to navigate the market right now, if the only reference they had was sentiment on X, it would be very difficult to keep to your strategy and stay in positions with this enormous selling pressure and concerns with macro influences.....
And I don't think anyone can truly stay immune from these influences either, so we must have in place coping mechanisms and strategies to ground us and stay focused, and for us that is alway returning to the chart to verify if the structure is still in place and support levels are held.
Quite clearly the 200 Day MA has been tested and challenged at length lately but the truth is, it is holding for the second week now.
However, there is no bounce yet on this support level and likewise, there was no rejection underneath $571 when it was temporary lost during a trading session this week.
So your only response to this is to wait....let the market makers battle to hold support, you enter positions when support is confirmed and we see the start of a new impulse wave forming.
Otherwise, we wait for support to be lost and crucially a rejection from below
That's it, there is no other sensible way to approach this.
This is how to manage your portfolio at the highest level.
I will be ready and continue to guide this group when I believe the situation has changed.
JOLTS, CPI and PPI will continue to influence the market this week, so we must continue to expect volatility until we are clear.
ECONOMIC CALENDAR FOR THE WEEK AHEAD:
Monday, March 10:
No major economic releases scheduled.
Tuesday, March 11:
JOLTS Job Openings (January): This report provides insights into labor market demand by measuring job vacancies.
Wednesday, March 12:
Consumer Price Index (CPI) (February): Reflects changes in the price level of a basket of consumer goods and services, indicating inflation trends.
Core CPI (February): Excludes food and energy prices to provide a clearer view of underlying inflation.
EIA Crude Oil Inventory (March 7): Offers data on U.S. crude oil stockpiles, influencing oil prices and energy markets.
Monthly Budget Statement (February): Details the federal government's budget balance, indicating fiscal health.
Thursday, March 13:
Producer Price Index (PPI) (February): Measures average changes in selling prices received by domestic producers, shedding light on wholesale inflation.
Initial Jobless Claims (March 8): Counts the number of individuals filing for unemployment benefits for the first time, reflecting labor market conditions.
Continuing Claims (March 1): Tracks the number of unemployed individuals who continue to receive benefits after their initial claim.
EIA Natural Gas Inventory (March 7): Provides data on natural gas stockpiles, relevant for energy markets.
Friday, March 14:
University of Michigan Consumer Confidence Index (March, Preliminary): Assesses consumer sentiment regarding economic conditions, influencing consumer spending.ye
Comments
Burak Diplen
Cap, is there any reason you moved the highest level to 7000 up from 6800 if I remember correctly?
DiegoTheSabre17
hey cap, does the SPY look like it is still in wave (4) - expanded formation - ongoing wave c? If my interpretation has validity of course, then top of wave (1) might be of importance around 560.
Nick
I feel a rollercoaster of a week could be on the horizon 😅
Federico Salerno
Your guide is essential, Cap.
