<?xml version="1.0" encoding="UTF-8"?><rss xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:atom="http://www.w3.org/2005/Atom" version="2.0" xmlns:itunes="http://www.itunes.com/dtds/podcast-1.0.dtd" xmlns:googleplay="http://www.google.com/schemas/play-podcasts/1.0"><channel><title><![CDATA[Pros Don't Panic: SPY]]></title><description><![CDATA[SPDR ETF Trust (SPY)]]></description><link>https://www.prosdontpanic.com/s/spdr-etf-trust-spy</link><image><url>https://substackcdn.com/image/fetch/$s_!SxLu!,w_256,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6c95f1c6-e70d-4cfa-9cca-72f8b18f4cfb_256x256.png</url><title>Pros Don&apos;t Panic: SPY</title><link>https://www.prosdontpanic.com/s/spdr-etf-trust-spy</link></image><generator>Substack</generator><lastBuildDate>Thu, 16 Apr 2026 17:44:14 GMT</lastBuildDate><atom:link href="https://www.prosdontpanic.com/feed" rel="self" type="application/rss+xml"/><copyright><![CDATA[Pros Don't Panic]]></copyright><language><![CDATA[en]]></language><webMaster><![CDATA[prosdontpanic@substack.com]]></webMaster><itunes:owner><itunes:email><![CDATA[prosdontpanic@substack.com]]></itunes:email><itunes:name><![CDATA[Pros Don't Panic]]></itunes:name></itunes:owner><itunes:author><![CDATA[Pros Don't Panic]]></itunes:author><googleplay:owner><![CDATA[prosdontpanic@substack.com]]></googleplay:owner><googleplay:email><![CDATA[prosdontpanic@substack.com]]></googleplay:email><googleplay:author><![CDATA[Pros Don't Panic]]></googleplay:author><itunes:block><![CDATA[Yes]]></itunes:block><item><title><![CDATA[SPDR ETF (SPY) – Weekly Chart Pattern Update (February 26, 2026) ]]></title><description><![CDATA[This weekly update reviews the SPY&#8217;s current market structure and pattern development using orthodox NeoWave logic and analysis.]]></description><link>https://www.prosdontpanic.com/p/spdr-etf-spy-weekly-chart-pattern-b28</link><guid isPermaLink="false">https://www.prosdontpanic.com/p/spdr-etf-spy-weekly-chart-pattern-b28</guid><dc:creator><![CDATA[Pros Don't Panic]]></dc:creator><pubDate>Thu, 26 Feb 2026 20:18:38 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!TZ7P!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1ac1ba90-f091-470d-96a2-50ff9ce9ee43_1534x918.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p>This weekly update reviews the SPY&#8217;s current market structure and pattern development using orthodox NeoWave logic and analysis.</p>
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   ]]></content:encoded></item><item><title><![CDATA[SPDR ETF (SPY) – Weekly Chart Pattern Update (February 18, 2026) ]]></title><description><![CDATA[This weekly update reviews the SPY&#8217;s current market structure and pattern development using orthodox NeoWave logic and analysis.]]></description><link>https://www.prosdontpanic.com/p/spdr-etf-spy-weekly-chart-pattern-c2a</link><guid isPermaLink="false">https://www.prosdontpanic.com/p/spdr-etf-spy-weekly-chart-pattern-c2a</guid><dc:creator><![CDATA[Pros Don't Panic]]></dc:creator><pubDate>Thu, 19 Feb 2026 03:22:25 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!kFyI!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd4764852-ae8a-412d-8214-f773eba96364_1534x913.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p>This weekly update reviews the SPY&#8217;s current market structure and pattern development using orthodox NeoWave logic and analysis.</p>
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   ]]></content:encoded></item><item><title><![CDATA[SPDR ETF (SPY) – Weekly Chart Pattern Update (February 11, 2026) ]]></title><description><![CDATA[This weekly update reviews the SPY&#8217;s current market structure and pattern development using orthodox NeoWave logic and analysis.]]></description><link>https://www.prosdontpanic.com/p/spdr-etf-spy-weekly-chart-pattern-020</link><guid isPermaLink="false">https://www.prosdontpanic.com/p/spdr-etf-spy-weekly-chart-pattern-020</guid><dc:creator><![CDATA[Pros Don't Panic]]></dc:creator><pubDate>Wed, 11 Feb 2026 23:16:25 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!kFyI!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd4764852-ae8a-412d-8214-f773eba96364_1534x913.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p>This weekly update reviews the SPY&#8217;s current market structure and pattern development using orthodox NeoWave logic and analysis.</p>
      <p>
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   ]]></content:encoded></item><item><title><![CDATA[SPDR ETF (SPY) – Weekly Chart Pattern Update (February 04, 2026) ]]></title><description><![CDATA[This weekly update reviews the SPY&#8217;s current market structure and pattern development using orthodox NeoWave logic and analysis.]]></description><link>https://www.prosdontpanic.com/p/spdr-etf-spy-weekly-chart-pattern-c62</link><guid isPermaLink="false">https://www.prosdontpanic.com/p/spdr-etf-spy-weekly-chart-pattern-c62</guid><dc:creator><![CDATA[Pros Don't Panic]]></dc:creator><pubDate>Thu, 05 Feb 2026 05:20:58 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!dLsz!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa35343cf-db04-4b45-a3ea-5ce6b308d0ae_1534x913.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p>This weekly update reviews the SPY&#8217;s current market structure and pattern development using orthodox NeoWave logic and analysis.</p>
      <p>
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   ]]></content:encoded></item><item><title><![CDATA[SPDR ETF (SPY) – Weekly Chart Pattern Update (January 27, 2026) ]]></title><description><![CDATA[This weekly update reviews the SPY&#8217;s current market structure and pattern development using orthodox NEoWave logic and analysis.]]></description><link>https://www.prosdontpanic.com/p/spdr-etf-spy-weekly-chart-pattern-862</link><guid isPermaLink="false">https://www.prosdontpanic.com/p/spdr-etf-spy-weekly-chart-pattern-862</guid><dc:creator><![CDATA[Pros Don't Panic]]></dc:creator><pubDate>Wed, 28 Jan 2026 20:22:28 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!AweT!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb1556ba7-d4fc-42a3-9955-dc838ebf6a8f_1570x875.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p>This weekly update reviews the SPY&#8217;s current market structure and pattern development using orthodox NEoWave logic and analysis. </p><p></p><h3>6-Monthly Chart</h3><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!AweT!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb1556ba7-d4fc-42a3-9955-dc838ebf6a8f_1570x875.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!AweT!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb1556ba7-d4fc-42a3-9955-dc838ebf6a8f_1570x875.png 424w, https://substackcdn.com/image/fetch/$s_!AweT!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb1556ba7-d4fc-42a3-9955-dc838ebf6a8f_1570x875.png 848w, https://substackcdn.com/image/fetch/$s_!AweT!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb1556ba7-d4fc-42a3-9955-dc838ebf6a8f_1570x875.png 1272w, https://substackcdn.com/image/fetch/$s_!AweT!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb1556ba7-d4fc-42a3-9955-dc838ebf6a8f_1570x875.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!AweT!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb1556ba7-d4fc-42a3-9955-dc838ebf6a8f_1570x875.png" width="1456" height="811" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/b1556ba7-d4fc-42a3-9955-dc838ebf6a8f_1570x875.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:811,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:155424,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://www.prosdontpanic.com/i/186112944?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb1556ba7-d4fc-42a3-9955-dc838ebf6a8f_1570x875.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!AweT!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb1556ba7-d4fc-42a3-9955-dc838ebf6a8f_1570x875.png 424w, https://substackcdn.com/image/fetch/$s_!AweT!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb1556ba7-d4fc-42a3-9955-dc838ebf6a8f_1570x875.png 848w, https://substackcdn.com/image/fetch/$s_!AweT!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb1556ba7-d4fc-42a3-9955-dc838ebf6a8f_1570x875.png 1272w, https://substackcdn.com/image/fetch/$s_!AweT!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb1556ba7-d4fc-42a3-9955-dc838ebf6a8f_1570x875.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>No change in the 6-monthly chart. As stated before, SPY is completing a 26-year running bear market correction which everyone thought was the &#8220;bull market&#8221;. A closer look at Wave-(4) shows that wave-E is finishing up a Neutral Triangle. When its finished Wave-(5) should commence with all degrees going to the upside and a very powerful upside potential. </p><h3>Monthly Chart</h3><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!ygbs!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbf1a874e-ffc0-45da-812a-b1bf3846d799_1570x875.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!ygbs!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbf1a874e-ffc0-45da-812a-b1bf3846d799_1570x875.png 424w, https://substackcdn.com/image/fetch/$s_!ygbs!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbf1a874e-ffc0-45da-812a-b1bf3846d799_1570x875.png 848w, https://substackcdn.com/image/fetch/$s_!ygbs!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbf1a874e-ffc0-45da-812a-b1bf3846d799_1570x875.png 1272w, https://substackcdn.com/image/fetch/$s_!ygbs!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbf1a874e-ffc0-45da-812a-b1bf3846d799_1570x875.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!ygbs!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbf1a874e-ffc0-45da-812a-b1bf3846d799_1570x875.png" width="1456" height="811" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/bf1a874e-ffc0-45da-812a-b1bf3846d799_1570x875.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:811,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:155979,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.prosdontpanic.com/i/186112944?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbf1a874e-ffc0-45da-812a-b1bf3846d799_1570x875.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!ygbs!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbf1a874e-ffc0-45da-812a-b1bf3846d799_1570x875.png 424w, https://substackcdn.com/image/fetch/$s_!ygbs!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbf1a874e-ffc0-45da-812a-b1bf3846d799_1570x875.png 848w, https://substackcdn.com/image/fetch/$s_!ygbs!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbf1a874e-ffc0-45da-812a-b1bf3846d799_1570x875.png 1272w, https://substackcdn.com/image/fetch/$s_!ygbs!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbf1a874e-ffc0-45da-812a-b1bf3846d799_1570x875.png 1456w" sizes="100vw"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><h3>Weekly Chart</h3><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!grj1!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd0dde47c-5193-474b-a58a-7f6ead2036f2_1570x875.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!grj1!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd0dde47c-5193-474b-a58a-7f6ead2036f2_1570x875.png 424w, https://substackcdn.com/image/fetch/$s_!grj1!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd0dde47c-5193-474b-a58a-7f6ead2036f2_1570x875.png 848w, https://substackcdn.com/image/fetch/$s_!grj1!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd0dde47c-5193-474b-a58a-7f6ead2036f2_1570x875.png 1272w, https://substackcdn.com/image/fetch/$s_!grj1!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd0dde47c-5193-474b-a58a-7f6ead2036f2_1570x875.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!grj1!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd0dde47c-5193-474b-a58a-7f6ead2036f2_1570x875.png" width="1456" height="811" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/d0dde47c-5193-474b-a58a-7f6ead2036f2_1570x875.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:811,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:127636,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.prosdontpanic.com/i/186112944?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd0dde47c-5193-474b-a58a-7f6ead2036f2_1570x875.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!grj1!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd0dde47c-5193-474b-a58a-7f6ead2036f2_1570x875.png 424w, https://substackcdn.com/image/fetch/$s_!grj1!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd0dde47c-5193-474b-a58a-7f6ead2036f2_1570x875.png 848w, https://substackcdn.com/image/fetch/$s_!grj1!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd0dde47c-5193-474b-a58a-7f6ead2036f2_1570x875.png 1272w, https://substackcdn.com/image/fetch/$s_!grj1!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd0dde47c-5193-474b-a58a-7f6ead2036f2_1570x875.png 1456w" sizes="100vw"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>A closer look at the developing Wave-(e) of E:</strong></p><ul><li><p>Even though orange wave-C is rising the trend waves are DOWN. Notice the strenth of purple waves-a, c and e. I have not marked the end of orange wave-c yet. </p></li></ul><h3>Bottom Line</h3><p>SPY is completing a 26-year running bear market correction. We need to get through the end of Wave-(4) which is completing wave-E then the real bull market will begin. A significant break to the upside (new trend) will signal the start of wave-5 and mark the low for the next 20-30 years. </p><p><a href="https://www.prosdontpanic.com/">Home</a> &gt; <a href="https://www.prosdontpanic.com/p/markets-latest-updates">Markets</a></p><p><em>This content is provided for informational and educational purposes only and does not constitute trading, investment, or financial advice. PDP does not provide trade recommendations, entry or exit signals, or portfolio guidance.</em></p><div><hr></div><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://www.prosdontpanic.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading! Subscribe to receive new Weekly Updates and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[SPDR ETF (SPY) – Weekly Chart Pattern Update (January 19, 2026) ]]></title><description><![CDATA[This weekly update reviews the SPY&#8217;s current market structure and pattern development using orthodox NEoWave logic and analysis.]]></description><link>https://www.prosdontpanic.com/p/spdr-etf-spy-weekly-chart-pattern-ee5</link><guid isPermaLink="false">https://www.prosdontpanic.com/p/spdr-etf-spy-weekly-chart-pattern-ee5</guid><dc:creator><![CDATA[Pros Don't Panic]]></dc:creator><pubDate>Mon, 19 Jan 2026 18:12:16 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!WUrU!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F00f34ebc-09fd-4fa0-b7c3-389d3b7833e8_1570x875.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p>This weekly update reviews the SPY&#8217;s current market structure and pattern development using orthodox NEoWave logic and analysis. </p><p></p>
      <p>
          <a href="https://www.prosdontpanic.com/p/spdr-etf-spy-weekly-chart-pattern-ee5">
              Read more
          </a>
      </p>
   ]]></content:encoded></item><item><title><![CDATA[SPDR ETF (SPY) – Weekly Chart Pattern Update (January 19, 2026) ]]></title><description><![CDATA[SPY is completing a 26-year running bear market correction which everyone thought was the &#8220;bull market&#8221;.]]></description><link>https://www.prosdontpanic.com/p/spdr-etf-spy-weekly-chart-pattern-06c</link><guid isPermaLink="false">https://www.prosdontpanic.com/p/spdr-etf-spy-weekly-chart-pattern-06c</guid><dc:creator><![CDATA[Pros Don't Panic]]></dc:creator><pubDate>Mon, 19 Jan 2026 01:33:23 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!_eS8!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5d695cbc-8623-476b-8dfc-6a12150d4e03_1570x875.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p>SPY is completing a 26-year running bear market correction which everyone thought was the &#8220;bull market&#8221;. We need to get through the end of Wave-(4) which is completing wave-E then the real bull market will begin. </p>
      <p>
          <a href="https://www.prosdontpanic.com/p/spdr-etf-spy-weekly-chart-pattern-06c">
              Read more
          </a>
      </p>
   ]]></content:encoded></item><item><title><![CDATA[SPDR ETF (SPY) – Weekly Chart Pattern Update (January 06, 2026) ]]></title><description><![CDATA[This update reviews the SPY&#8217;s current market structure and pattern development using orthodox NEoWave logic and analysis.]]></description><link>https://www.prosdontpanic.com/p/spdr-etf-spy-weekly-chart-pattern</link><guid isPermaLink="false">https://www.prosdontpanic.com/p/spdr-etf-spy-weekly-chart-pattern</guid><dc:creator><![CDATA[Pros Don't Panic]]></dc:creator><pubDate>Wed, 07 Jan 2026 04:10:35 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!A1mw!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb26c33c4-d522-4773-8b38-d80119fca481_1534x871.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p>This update reviews the SPY&#8217;s current market structure and pattern development using orthodox NEoWave logic and analysis. </p><p>SPY is completing a 26-year running bear market correction which everyone thought was the &#8220;bull market&#8221;. We need to get through the end of Wave-(4) which is completing wave-E then the real bull market will begin. </p><h3>2.5 Yearly Chart</h3><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!A1mw!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb26c33c4-d522-4773-8b38-d80119fca481_1534x871.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!A1mw!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb26c33c4-d522-4773-8b38-d80119fca481_1534x871.png 424w, https://substackcdn.com/image/fetch/$s_!A1mw!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb26c33c4-d522-4773-8b38-d80119fca481_1534x871.png 848w, https://substackcdn.com/image/fetch/$s_!A1mw!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb26c33c4-d522-4773-8b38-d80119fca481_1534x871.png 1272w, https://substackcdn.com/image/fetch/$s_!A1mw!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb26c33c4-d522-4773-8b38-d80119fca481_1534x871.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!A1mw!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb26c33c4-d522-4773-8b38-d80119fca481_1534x871.png" width="1456" height="827" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/b26c33c4-d522-4773-8b38-d80119fca481_1534x871.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:827,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:122905,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://www.prosdontpanic.com/i/183750030?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb26c33c4-d522-4773-8b38-d80119fca481_1534x871.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!A1mw!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb26c33c4-d522-4773-8b38-d80119fca481_1534x871.png 424w, https://substackcdn.com/image/fetch/$s_!A1mw!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb26c33c4-d522-4773-8b38-d80119fca481_1534x871.png 848w, https://substackcdn.com/image/fetch/$s_!A1mw!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb26c33c4-d522-4773-8b38-d80119fca481_1534x871.png 1272w, https://substackcdn.com/image/fetch/$s_!A1mw!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb26c33c4-d522-4773-8b38-d80119fca481_1534x871.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Purple (higher degree): </strong></p><ul><li><p>Impulse wave topped in 2000 and commenced a 26-year running correction marked here as wave-(4). </p></li><li><p>Purple trend (Wave 3)= <strong>UP</strong></p></li></ul><p><strong>Blue (lower degree): </strong></p><ul><li><p>Wave-E of (4) has been tracing out an ABC pattern in opposition to the larger trend. </p></li><li><p>Blue trend= <strong>DOWN</strong></p></li></ul><h3>6-Monthly Chart</h3><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!9ivh!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5a817c2d-1ce8-489e-8820-5f7f417782bb_1534x871.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!9ivh!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5a817c2d-1ce8-489e-8820-5f7f417782bb_1534x871.png 424w, https://substackcdn.com/image/fetch/$s_!9ivh!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5a817c2d-1ce8-489e-8820-5f7f417782bb_1534x871.png 848w, https://substackcdn.com/image/fetch/$s_!9ivh!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5a817c2d-1ce8-489e-8820-5f7f417782bb_1534x871.png 1272w, https://substackcdn.com/image/fetch/$s_!9ivh!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5a817c2d-1ce8-489e-8820-5f7f417782bb_1534x871.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!9ivh!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5a817c2d-1ce8-489e-8820-5f7f417782bb_1534x871.png" width="1456" height="827" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/5a817c2d-1ce8-489e-8820-5f7f417782bb_1534x871.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:827,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:131450,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.prosdontpanic.com/i/183741891?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5a817c2d-1ce8-489e-8820-5f7f417782bb_1534x871.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!9ivh!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5a817c2d-1ce8-489e-8820-5f7f417782bb_1534x871.png 424w, https://substackcdn.com/image/fetch/$s_!9ivh!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5a817c2d-1ce8-489e-8820-5f7f417782bb_1534x871.png 848w, https://substackcdn.com/image/fetch/$s_!9ivh!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5a817c2d-1ce8-489e-8820-5f7f417782bb_1534x871.png 1272w, https://substackcdn.com/image/fetch/$s_!9ivh!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5a817c2d-1ce8-489e-8820-5f7f417782bb_1534x871.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>A closer look at Wave-(4) shows that wave-E is finishing up a Neutral Triangle. When its finished Wave-(5) should commence with all degrees going to the upside and a very powerful upside potential. </p><h3>Monthly Chart</h3><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!HItj!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa35f9a34-363e-47a8-a762-7cdbed3d248d_1534x871.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!HItj!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa35f9a34-363e-47a8-a762-7cdbed3d248d_1534x871.png 424w, https://substackcdn.com/image/fetch/$s_!HItj!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa35f9a34-363e-47a8-a762-7cdbed3d248d_1534x871.png 848w, https://substackcdn.com/image/fetch/$s_!HItj!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa35f9a34-363e-47a8-a762-7cdbed3d248d_1534x871.png 1272w, https://substackcdn.com/image/fetch/$s_!HItj!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa35f9a34-363e-47a8-a762-7cdbed3d248d_1534x871.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!HItj!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa35f9a34-363e-47a8-a762-7cdbed3d248d_1534x871.png" width="1456" height="827" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/a35f9a34-363e-47a8-a762-7cdbed3d248d_1534x871.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:827,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:130279,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.prosdontpanic.com/i/183750030?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa35f9a34-363e-47a8-a762-7cdbed3d248d_1534x871.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!HItj!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa35f9a34-363e-47a8-a762-7cdbed3d248d_1534x871.png 424w, https://substackcdn.com/image/fetch/$s_!HItj!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa35f9a34-363e-47a8-a762-7cdbed3d248d_1534x871.png 848w, https://substackcdn.com/image/fetch/$s_!HItj!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa35f9a34-363e-47a8-a762-7cdbed3d248d_1534x871.png 1272w, https://substackcdn.com/image/fetch/$s_!HItj!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa35f9a34-363e-47a8-a762-7cdbed3d248d_1534x871.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Zooming in on Wave-E of (4) yet another Neutral Triangle is forming and nearing completion. Fractals are common as the pattern repeats itself. </p><h3>Weekly Chart</h3><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!WNWz!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe8c44d8b-e650-4060-8414-d6ba9e53c775_1534x871.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!WNWz!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe8c44d8b-e650-4060-8414-d6ba9e53c775_1534x871.png 424w, https://substackcdn.com/image/fetch/$s_!WNWz!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe8c44d8b-e650-4060-8414-d6ba9e53c775_1534x871.png 848w, https://substackcdn.com/image/fetch/$s_!WNWz!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe8c44d8b-e650-4060-8414-d6ba9e53c775_1534x871.png 1272w, https://substackcdn.com/image/fetch/$s_!WNWz!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe8c44d8b-e650-4060-8414-d6ba9e53c775_1534x871.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!WNWz!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe8c44d8b-e650-4060-8414-d6ba9e53c775_1534x871.png" width="1456" height="827" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/e8c44d8b-e650-4060-8414-d6ba9e53c775_1534x871.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:827,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:104912,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.prosdontpanic.com/i/183750030?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe8c44d8b-e650-4060-8414-d6ba9e53c775_1534x871.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!WNWz!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe8c44d8b-e650-4060-8414-d6ba9e53c775_1534x871.png 424w, https://substackcdn.com/image/fetch/$s_!WNWz!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe8c44d8b-e650-4060-8414-d6ba9e53c775_1534x871.png 848w, https://substackcdn.com/image/fetch/$s_!WNWz!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe8c44d8b-e650-4060-8414-d6ba9e53c775_1534x871.png 1272w, https://substackcdn.com/image/fetch/$s_!WNWz!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe8c44d8b-e650-4060-8414-d6ba9e53c775_1534x871.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><p><strong>A closer look at the developing Wave-(e) of E:</strong></p><ul><li><p>Wave-b of (e) was a strong running correction lifting the market higher. </p></li><li><p>Wave-c of (e) is going against the trend so you should see bouts of downside action but there is <strong>no guarantee</strong> the market will make it down to where wave-c is marked. </p></li></ul><h3>Bottom Line</h3><p>SPY is completing a 26-year running bear market correction. We need to get through the end of Wave-(4) which is completing wave-E then the real bull market will begin. </p><p><a href="https://www.prosdontpanic.com/">Home</a> &gt; <a href="https://www.prosdontpanic.com/p/markets">Markets</a></p><p><em>This content is provided for informational and educational purposes only and does not constitute trading, investment, or financial advice. PDP does not provide trade recommendations, entry or exit signals, or portfolio guidance.</em></p><div><hr></div><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://www.prosdontpanic.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading! Subscribe to receive new Weekly Updates and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item></channel></rss>