SPY - ATH this year

12 Ağu 2023

Wave 2 was a flat; so there is high chance that 4 will be a zig zag; there is bullish divergence in lower time frame. A bounce to 451 - 453 likely early next week. From there if market goes down, it will find support somewhere in the lower part of the channel. QQQ closed below 50 ma. That's concerning. I still think we will hit ATH this year then there will be sizable pull back