SPY / SPX Pullback and Rally?

22 Jun 2023

Looks like a fairly typical fib pattern to me. We ran the 0.618 to ALMOST the 1.618. Bulls should be taking profit at the 1.618 and will attempt to reload at the major 420 support (potentially the 429 support will hold but won't have the strength to go after ATH). Seems like we need a pullback to 420, if 420 falls we'll start thinking more about the downside scenarios. Gotta wait for a realistic dip here on some event tho, I personally can't chase this on longs

7 Ogo 2023

Nota

This plan is still active. The ultimate target for longs is 475 (I am not sure if we will make it but I am sure that is the target). If we proceed with this steep rally into 475 then we will 'double top' and see at least a 400pt correction. If we slow down (like we are seeing) then we may be able to break prior ATH. I'll be watching 444-446 area this week for entry (or confirmation of a top, indicating bulls will not reach 475 target)