SPY Rallying to $608+. Are you ready?
My research suggests the SPY will quickly rally above $560 and continue higher to breach $608 (a 100% Fibonacci measured move) before the end of August.
The Q2:2024 earnings data and continued US economic strength will drive capital investments in US equities over the next 3+ months.
Traders continue highlighting the risks related to US banking issues and the related downside price concerns. I also share these concerns - but continue to follow the price action simply.
My analysis suggests the SPY will attempt to rally to levels close to $605+ before finding any major resistance.
The Q2:2024 earnings data and continued US economic strength will drive capital investments in US equities over the next 3+ months.
Traders continue highlighting the risks related to US banking issues and the related downside price concerns. I also share these concerns - but continue to follow the price action simply.
My analysis suggests the SPY will attempt to rally to levels close to $605+ before finding any major resistance.
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