The Long Investor
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$SPY TOP 20
🕑 Added 2025-01-13 17:12:56 +0000 UTCYesterday we said that the bulls needed to start the week strong and unfortunately they have not done this, I have assessed potential support levels that the bulls must try and hold in order to save the price action from dropping as low as the 200 Day MA at $556.
Price fell down as low as the 0.5 Fib today in white at $575, which would still make a subwave 4 valid for this final market Wave 5.
So for me, last stance would be holding between $575 and the green line at $565....otherwise the 200 Day MA is next and this would align with a Wave A pull back.
