This weekly update reviews the SPY’s current market structure and pattern development using orthodox NEoWave logic and analysis.
6-Monthly Chart
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 “bull market”. 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.
Monthly Chart
Weekly Chart
A closer look at the developing Wave-(e) of E:
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.
Bottom Line
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.
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.