QQQ - S&P 500: Getting Crazy - Week Starting 12th February (Technical Analysis)
2024-02-11 16:00:00 ET
Summary
- The S&P 500 reached the 5000 milestone and has closed higher 14 weeks out of the last 15.
- Calling tops against this trend is obviously speculative, but we can look for technical evidence to support our view.
- I outline what to look for to keep the right side of the trend.
The S&P 500 ( SPY ) reached the 5000 milestone this week. I actually thought it might fall just short and in last weekend's article speculated sentiment was getting "too bullish" just as seasonality shifted negative. Clearly, this wasn't the case and the bullish technicals trumped my speculation....
S&P 500: Getting Crazy - Week Starting 12th February (Technical Analysis)