The Long Investor
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$SPY TOP 20
🕑 Added 2025-02-23 19:43:20 +0000 UTC$610 is the important level for the $SPY to break above now and a retest of the 50 Day MA was completed towards the close on Friday. So just like the $QQQ chart, no important moving averages have been lost here and there are also no lower lows.
Market makers have a habit of bringing the price action down to the 50 Day MA leading up to important economic data and earnings....and in this case, $NVDA's earnings on Weds.
I have shared my 8 Year $SPY Projection and I do believe we have one possible leg up before the inevitable Cycle Wave 2 pull back, which will present one of the best generational wealth opportunities for many of us, so please remember this at all times.
But right now, I am still leaning towards one more leg up and the market breaking above $610 but this needs to be confirmed.
Economic Data for the Week ahead:
Monday, February 24, 2025:
No major economic releases are scheduled.
Tuesday, February 25, 2025:
9:00 AM ET: S&P/Case-Shiller Home Price Index for December, providing insights into housing market trends.
10:00 AM ET: Consumer Confidence Index for February, reflecting consumer sentiment and spending intentions.
Wednesday, February 26, 2025:
10:00 AM ET: New Home Sales data for January, indicating the health of the housing market.
Thursday, February 27, 2025:
8:30 AM ET: Durable Goods Orders for January, offering information on manufacturing sector strength.
8:30 AM ET: Second estimate of Q4 Gross Domestic Product (GDP), providing an updated measure of economic growth.
8:30 AM ET: Initial Jobless Claims, shedding light on the current state of the labor market.
10:00 AM ET: Pending Home Sales for January, another key housing market indicator.
Friday, February 28, 2025:
8:30 AM ET: Personal Consumption Expenditures (PCE) Price Index for January, the Federal Reserve's preferred inflation gauge.
9:45 AM ET: Chicago Purchasing Managers' Index (PMI) for February, reflecting business conditions in the Chicago area.
Comments
Kevin
Cap, maybe dumb question but why would anyone add at the 480 buy zone short term if the ultimate buy zone gets to 345?
Travis J Whitley
Buffet got rid of all his SPY, all be it small compared to the rest of his portfolio
Ye Gu
What’s the target for SPY on cycle wave 2 pullback?
Gareth Neary
For now, no rejection
Julien
I am scared the crash is here and no leg up is coming
