$SPY | Watchlist D1 | Buy Limit |

8月12日Technical Confluences:
- Recent Elliott wave count shows that we are now in a Wave 4 retracement
- Price action seemed to have topped out at the 50% Fibo Extension for now (Ending Wave 3)
- Price action may test the Supply Zone again before retracing downwards towards the Horizontal Trendline and the 38% or 50% Retracement Fibo

Fundamental Confluences:
- US economic outlook is weak currently and valuations needs to normalize before we make a new high
- Businesses are suffering from high interest rate environment and for the FED to cut, growth needs to show definite weakness, which we are starting to see.
- A FED cut will not instantly improve business prospects again as interest rate changes takes time to seep into the economy
- Investors will also be wary about the upcoming elections as government policies may affect business activities
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Watching the Demand Zones as levels to begin some of my portfolio allocation into SPY

Will place my Buy Limit orders for the it.

Remember, DYOR.
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Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks. DYOR.