$SPY TOP 20

$610 is the important level for the $SPY to break above now and a retest of the 50 Day MA was completed towards the close on Friday. So just like the $QQQ chart, no important moving averages have been lost here and there are also no lower lows.

Market makers have a habit of bringing the price action down to the 50 Day MA leading up to important economic data and earnings....and in this case, $NVDA's earnings on Weds.

I have shared my 8 Year $SPY Projection and I do believe we have one possible leg up before the inevitable Cycle Wave 2 pull back, which will present one of the best generational wealth opportunities for many of us, so please remember this at all times.

But right now, I am still leaning towards one more leg up and the market breaking above $610 but this needs to be confirmed.

Economic Data for the Week ahead:

Monday, February 24, 2025:

• No major economic releases are scheduled.

Tuesday, February 25, 2025:

• 9:00 AM ET: S&P/Case-Shiller Home Price Index for December, providing insights into housing market trends.

• 10:00 AM ET: Consumer Confidence Index for February, reflecting consumer sentiment and spending intentions.

Wednesday, February 26, 2025:

• 10:00 AM ET: New Home Sales data for January, indicating the health of the housing market.

Thursday, February 27, 2025:

• 8:30 AM ET: Durable Goods Orders for January, offering information on manufacturing sector strength.

• 8:30 AM ET: Second estimate of Q4 Gross Domestic Product (GDP), providing an updated measure of economic growth.

• 8:30 AM ET: Initial Jobless Claims, shedding light on the current state of the labor market.

• 10:00 AM ET: Pending Home Sales for January, another key housing market indicator.

Friday, February 28, 2025:

• 8:30 AM ET: Personal Consumption Expenditures (PCE) Price Index for January, the Federal Reserve's preferred inflation gauge.

• 9:45 AM ET: Chicago Purchasing Managers' Index (PMI) for February, reflecting business conditions in the Chicago area.